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The question

What is the ruling on purchasing a car in installments from an agency that imposes an interest rate ranging between 11-20% on the remaining (deferred) amount, with the rate increasing as the number of installment years increases?

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Source: FtawySummary from Ftawy's records · added here Sep 2, 20261 min readAlso available in العربية
The answer

If the company owns the car, has acquired it, and taken possession of it through purchase, then it is permissible for the company to sell it by installments, whether the entire price is deferred or a part of it is cash and a part is deferred, as long as the price has been agreed upon. This is because it falls under the category of lawful trade that Allah has permitted, as He says: (And Allah has permitted trade and forbidden interest).

Summary from Ftawy's records · added here

Reviewed by El Fatwa's sharia committee.

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
19162
Added here
. This is when the answer was added to El Fatwa, not the fatwa's date.
Text
Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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Read the full answer on Ftawy