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I understand interest is Haram. My question is as follows:

I want to lease a car (for 3 years) that has interest % but the company is offering me to calculate 3 years of interest and contribute/pay upfront the whole interest cost. In that way I will only be paying the principle amount for next 3 years and no interest as that has already been contributed by car company. Is this permissible?

  • So you will be paying interest, just at the start and not in the duration of 3 years? – goto Feb 2 '14 at 14:05
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And if you do not do it, then take a notice of war from Allaah and His Messenger but if you repent, you shall have your capital sums. Deal not unjustly (by asking more than your capital sums), and you shall not be dealt with unjustly (by receiving less than your capital sums). (Surah al-Baqarah 2:279)

What is haram is actually the fluctuations of interest which makes the car price undetermined. But if the interest is added on to the vehicle and the car price is made known, it is fine. And finally, Allah knows best.

Sources :

http://qa.sunnipath.com/issue_view.asp?HD=1&ID=1711&CATE=119

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