is this selling procedure halal or haram???

[shichemlydia]

salam alikoum brothers and sisters,
hope this finds you in the best of health and iman.

my company is making a sort of help to the employees to buy cars, the procedure is like this: we pay 30% of the total cost at the first time we sign the engagement, and the remaining at fixed intervals, something like 2.5% each month which will be taken automatically from our salary.
the key point here is, if you buy the car according to this procedure , it will cost you quite more than paying the total cost at once.( something like 5% more) and the price is stated at the engagement phase.

could this be considered as REBA or what??
wa salam alikoum

 

[Dr.Khan]

salam alikoum brothers and sisters,
hope this finds you in the best of health and iman.

my company is making a sort of help to the employees to buy cars, the procedure is like this: we pay 30% of the total cost at the first time we sign the engagement, and the remaining at fixed intervals, something like 2.5% each month which will be taken automatically from our salary.
the key point here is, if you buy the car according to this procedure , it will cost you quite more than paying the total cost at once.( something like 5% more) and the price is stated at the engagement phase.

could this be considered as REBA or what??
wa salam alikoum

Unfortunately I don't know about this and it seems like no one else does so I suggest you ask the question at www.islamonline.net
They have reliable and qualified Sheikhs.

 

[kayleigh]

If there's no interest being applied then I don't think it is riba. That is usually how Islamic loans work - you end up paying more than the original price in the long run, but there isn't interest applied to the amount you owe. Simply paying 5% more in the end doesn't necessarily mean it is riba.