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Question ID: 1136 Category: Permissible and Impermissible
Leasing vs Financing Car - Permissible Cases
Assalamualaikum,
Please shed more light regarding islamic stance on leasing and financing a car, is any case allowed in islam and the reason behind it.
Jazakallah Khair
الجواب وباللہ التوفیق
In general, Shariah does not allow leasing a car since it involves interest.
But due to payment in installments:
- if the interest is added to the original price of the vehicle to establish the final price.
- if final price of the car remains exact same irrespective of changes in the duration of lease.
When above conditions are satisfied, the lease becomes acceptable.
واللہ اعلم بالصواب