بسم اللہ الرحمٰن الرحیم

الجواب وباللہ التوفیق

In principle, selling goods on loan on specified installments, and increasing the original price because of loan is without doubt permissible from the Shariah point of view.However, it is necessary to agree and confirm on one of the two options of sale in the contract, i.e., in cash or on loan.

To elaborate further, if the company, a car showroom, or anyone else follows the above rule whereby the seller initially purchases a vehicle for himself from the parent company, and then.

1. sells it to the buyer in fixed installments,

2. by setting a fixed excess price including his profit,

3. and without a condition in the contract which shall force  payment of penalty or interest in case of delay of any installment, then that situation will be permissible. 

If above conditions are not met, then such a sale and purchase will be illegal.

البیع مع تأجیل الثمن وتقسیطہ صحیح .... شرح المجلۃ رقم المادۃ ۲۴۵

والثمن ما تراضی علیہ المتعاقدین سواد زاد علی القیمۃ او نقص ...(رد المحتار، مطلب فی الفرق بین القیمۃ والثمن ۔ط زکریا)

وھذا لان الاجل صفۃ کالجورۃ والاعتیاض عن الجودۃ لایجوز فکذا عن الأجل .... الکفایۃ شرح الہدایۃ،کتاب الصلح: ۷؍۳۹۷)

 فقط واللہ اعلم باالصواب