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Buying properties on interest loans : car purchase with interest
Fatawa Question
Assalamu Alaikum, I am trying to purchase a car without paying interest. A dealer that I am interested in purchasing from doesn't have any 0 % interest financing at this time but has given me the following option. He would determine the amount I would be paying in interest on the vehicle and deduct that amount from the cost of the vehicle. Basically on paper it would appear that I am paying the interest rate (1.9 %) but in reality I wouldn't be paying that amount. Is this acceptable by Shari’ah law ? Jazakallahu Khair, Wassalam Alaikum,
Fatwa
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Publication Date
2008-02-02
Main Subjects
Economics & Business Administration
Financial and Accounting Sciences
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-729713
American Psychological Association (APA)
Qahf, Mundhir. 2008-02-02. Buying properties on interest loans : car purchase with interest. .
https://search.emarefa.net/detail/BIM-729713
Modern Language Association (MLA)
Qahf, Mundhir. Buying properties on interest loans : car purchase with interest. 2008-02-02.
https://search.emarefa.net/detail/BIM-729713
American Medical Association (AMA)
Qahf, Mundhir. 2008-02-02. Buying properties on interest loans : car purchase with interest.
https://search.emarefa.net/detail/BIM-729713