Answered by Shaykh Faraz Rabbani
Assalamualaikum brother, recently I wanted to borrow a motorcycle from my friend. The total value of the bike is 14k plus. It is under installments for 4 yrs and has been paid for 1 year. The monthly instalment for this bike is $309. I told my friend i am going to borrow his bike for 6 mnths and I will pay the installment. As the $309 is inclusive of interests i asked him to pay the interest and I said i will pay the rest. Is this allowed as I am not paying the riba and its like only renting the bike for a few months and paying the rental? Also my friend says sometimes he needs the bike so he asked me to pay $150 and he will pay the rest and we”ll share the bike. Is this allowed as i have already told him i won”t pay the interest?
Walaikum assalam wa rahmatullah,
Your payment of the installments is effectively a rental of the bike from your friend–which is permitted, and not considered to be entering into the original (sinful and impermissible) riba-contract.
And Allah alone gives success.
Wassalam,
Faraz Rabbani