Q: When we take a car on loan from a bank and we pay extra money which is above the car price, is it permissible?
A: It is not permissible to take an interest bearing loan from the bank to purchase a car. The hadith has cursed the one who has any involvement with interest.
And Allah Ta’ala (الله تعالى) knows best.
Mufti Zakaria Makada
Checked & Approved:
Mufti Ebrahim Salejee (Isipingo Beach)