Sample Header Ad - 728x90

Are Islamic Car Financing Halal?

0 votes
1 answer
63 views
Assalamu'aalaykum, I'm looking to buy a car and stumbled across some Islamic financing websites. This is from one of the websites: "...promises to sell the commodities and the customer promises to buy the commodities from time to time on an agreed ratio of profit added to the cost." It seems like they are twisting riba as profit added to the cost, especially when the car will go down in value over time. Is this allowed?
Asked by Ayt uname (1 rep)
Jan 8, 2022, 05:37 AM
Last activity: Jan 8, 2022, 05:42 AM