Purchasing an item with a higher credit price

Q: Can I purchase a motorcycle on instalments? The original price is 44 500 and on instalments I have to pay 63 000 in 1.5 years on equal instalments of 3000 a month. Is it right or is it sood?

A: If the agreement is made on paying in instalments and the total amount is fixed then it is permissible.

And Allah Ta'ala (الله تعالى) knows best.

 

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)