Credit transactions

Q: I sometimes need to buy something but don’t have the cash on me. Can I buy the goods on credit? If yes, are there any conditions to adhere to?

Q: I have some money invested that are easily redeemable and have a credit card as well. When I become cash strapped I resort to the Credit card due to ease of access and I always try to pay up the debt on the credit card within 55 days as before this no interest is charged, however, buying/relying on this facility makes me feel impoverished and fearful of consuming things that I can pay for later. I am fearful. What do you advise me to do? Use the credit card and ensure that I always pay for the debt within the non-interest period or rather use off my saved money?

Q: I want to know if having clothing accounts like truworths, miladys and so on is haraam?

Q: I want to buy furniture for my house as I am shifting to a new flat. But I can't really pay cash currently. But the shopkeeper is charging interest on that. So is it permissible? I have heard that if I know the total increased price then it is permissible. e.g If I buy a car now I have to pay 8000 but on instalments the new price will be 10,000. But they increase it and say that its the interest rate. However I know the final price so is it permissible?

Q: I had a question about buying a car on installments. There is a car the dealership is selling for 17,000 but if I don't have cash upfront then I'll have to buy it in installments. So now they will sell it to me for 20,000 because of the fact I don't have cash upfront so will this be getting involved with interest?

Q: I want to buy a new laptop which is currently worth R6ooo, but I don’t have enough money. If I purchase it in instalments, it will cost R7800 over one year. Is this permissible?

Q: I have a commodity whose price is Rs1000. When I sell for cash, I sell it for Rs1000 but when I sell it for credit, I sell it for Rs1500. Is this allowed in Islam?

Q: Kindly tell me what is the ruling for buying a new car on installment because in this case we have to pay extra money. Is this extra money considered as interest? And is it allowed to buy a car on installments?

Q: We have a company selling computers with Muslim and non-Muslim customers.

Some customers require financing/loans (which comes with interest) through third party financing institutions to buy the equipment from us.

Firstly, is it permissible for us to accept the payment from the financial institution on their behalf? We are not engaging in interest but we have to be registered as an authorized supplier with the institution.

Secondly, as some Muslims also tend to go through the same system, we want to provide an in-house interest-free financing facility for our Muslim customers only so that they do not have to pay interest and get a short-term facility on their purchase from us. Can we make the credit price higher than the cash price? For example, if R100 is the cash price, can we charge R125 for credit term over 6 monthly instalments?