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Is Rent to buy allowed?

2 votes
3 answers
6714 views
Recently I've been searching for a house online, of course I do not want to get involved in Riba Astagfir-Allah, so I started subscribing to all these "sale in execution" property auction websites, so I can see whether I could get some good deals. Anyways, I came across this one car they said you can buy it on "rent to buy". So I looked up "rent to buy" and according to this explanation on Forbes.com you pay a deposit / down payment on the property (car / home/etc) and the rent you pay each month includes rent plus a downpayment on the innitial price of the house, and the price does not fluctuate with the interest rate. Is it Halal to be involved in such a transaction? Please give a reason for your answer, Shukran.
Asked by pythonian29033 (307 rep)
Jan 27, 2014, 10:05 AM
Last activity: Jul 11, 2024, 04:18 PM