Q: If a person is in need of a car and he does not have the money to pay for it, can he buy it through bank finance?
A: Purchasing a car through the bank is impermissible as the element of interest is found. Grave warnings have been sounded in the Ahaadith for the one who gets involved in the major sin of interest. If one is already involved in the sin then one should sincerely repent to Allah Ta'ala and make a firm resolve that one will not repeat the sin in the future. Similarly, one should hasten in paying off the interest-bearing loan.
Hazrat Jaabir (radhiyallahu anhu) reported that Rasulullah (sallallahu alaihi wasallam) cursed the one who consumes interest, pays interest, the scribe for the interest-bearing deal and the witness to such a deal.”
And Allah Ta'ala (الله تعالى) knows best.
عن جابر رضي الله عنه قال: لعن رسول الله صلى الله عليه وسلم آكل الربا، ومؤكله، وكاتبه، وشاهديه وقال: هم سواء (صحيح مسلم، الرقم: 1598)
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