Bank Lease of Suzuki WagonR VXL

[surplusstock]

Leasing if available on Zero percent interest like offered by Auto companies worldwide are only interest free.
Rest everything is different forms of interest.

[faiz.aslam.121]

Seems like someone hasn't understood Islamic leasing concept, yet.

Is service charges halal in Islam? Yes.

So, when you buy a car or let's say, lease a car from an Islamic bank, the bank buys it for YOU, the car is in your name, you pay RENT for the car and SERVICE CHARGES , not interest. Service charges is halal.

Every installment you put down, the car is more yours % wise and less banks % wise.

So after 19 months, the car is yours 51%.

Translated from Norwegian using Google translate, please ignore the mistakes.

" HALAL-LOAN vs. LOANS WITH INTEREST

Some banks abroad offer Halal loans. When I saw the way they expect it on, I found out that they give out loans with charges.

What will be the difference between halal loans with loans with charges -and haram loans that have loans with interest
-Man pay the more than we really should pay in both situations?

Answer: The difference would be that one is halal bank while the other bank is haram. Moreover, the difference in fees and interest charges from halal bank goes to halal things in the bank and the bank fee from haram as some call fixed rate that is misleading and which is haram is haram to stuff in haram bank. If it is floating or fixed rate interest is haram. Interest is haram, no doubt in that. Fee is quite another. In a halal bank fee goes to cover the necessary costs to operate halal bank, this is allowed.

Question 2:
Interest is something we pay as a "punishment" because we borrow money partly instead of paying right away, and the banks would have fared badly if they had it, considering that they do not earn anything extra on it.
The same applies Halal loan, we get a kind of "punishment" = fee because we can not pay full price for example. apartment.
I feel that Halal loans have embellished the case and used the word "fee" instead of "interest".
I used the word punishment because I did not know what other word I'd use.

Answer: Charge from a halal bank to pay off the purchase price of halaleid residence halal bank is not punishing fee. Halal bank does not require from you that you should take up l?n.En Muslim is supposed to keep his appointment, do not break it. charge that appears on a halal bank includes the purchase price divided by the number of months or installments. So what you pay for halal bank which you call fee is really your purchase. And halal bank may well at the beginning of giving out loan require another fee to operate its necessary expenses, I think.

While a bank haram with haram interest, everything goes to haram things, which is absoulutt haram, no doubt. Haram banks serve the people's expense with interest, haram bank makes money from penger.Selvom one haram bank has 1 billion in profits I do not think it hesitates to claim interest from people. So interest rates are absolutely haram, no doubt. The interest rate can rise or fall and remain fixed (fixed rate) (fees as some call it misleading to antgv. Lure Muslims, this is also haram). Interest is clear given the prohibition in the Qur'an."

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[capsat]

why not a Mercedes E-Class ? am sure bank will not decline lease of Mercedes E-class 2014 model at down payment as planned by OP & payment plan.

Mr Capsat No body is fighting Allah the poster only asked the feasibility of leasing not islamic preachings. Say wht ever u wanna say but in todays era of capitalism how can u save ur self from interet? Our Govt and every other govt in the world takes loans and pay profit on them. I think if a person can buy a wagon r why should he buy mehran for six lacs.

[capsat]

I goto Islamic bank with my 500,000 as down payment and ask to lease Nissan Pathfinder worth approx. 2.5 million under islamic banking. Bank evaluate my financial worth depending on past 18 month statement and offer me what ??

1. 30 installments to pay balance 2 million ? NO

2. value the Pathfinder at 3.25 million & offer me at 91000 per months for 30 months ?
   thats islamic banking - agreed

3. how about the fine print which states that -if the customer fail to pay installment by 15th of each month , a service charge of 2.5% per 10 days will be charged for the current & preceeding month - ?? is that halal ??

4. if the customer default and fail to pay installment for 3 consecutive months the vehicle will be recovered at risk & cost of customer amount paid till date of confiscation will be charged as per contract, refund to the customer will be made after auction of vehicle at market value and deduction of amount & service charges due for default period.

i can post images of 1 whole file of islamic banking auctioned car contract valued at 3 mil for 24 months with down payment of 200,000 only - the customer paid 7 months and had serious financial crisis went to bank to return n cancel the lease, bank declined based on fine print over the back page of leasing agreement - 2 months later confiscation notice received he called the bank recovery & returned the car, car gone amount paid all gone & there is a recovery notice of approx 300,000 from the islamic bank because car was auctioned at low price.

This is what islamic banking is - my @$$

Seems like someone hasn't understood Islamic leasing concept, yet.

Is service charges halal in Islam? Yes.

So, when you buy a car or let's say, lease a car from an Islamic bank, the bank buys it for YOU, the car is in your name, you pay RENT for the car and SERVICE CHARGES , not interest. Service charges is halal.

Every installment you put down, the car is more yours % wise and less banks % wise.

So after 19 months, the car is yours 51%.

Translated from Norwegian using Google translate, please ignore the mistakes.

" HALAL-LOAN vs. LOANS WITH INTEREST

Some banks abroad offer Halal loans. When I saw the way they expect it on, I found out that they give out loans with charges.

What will be the difference between halal loans with loans with charges -and haram loans that have loans with interest
-Man pay the more than we really should pay in both situations?

Answer: The difference would be that one is halal bank while the other bank is haram. Moreover, the difference in fees and interest charges from halal bank goes to halal things in the bank and the bank fee from haram as some call fixed rate that is misleading and which is haram is haram to stuff in haram bank. If it is floating or fixed rate interest is haram. Interest is haram, no doubt in that. Fee is quite another. In a halal bank fee goes to cover the necessary costs to operate halal bank, this is allowed.

Question 2:
Interest is something we pay as a "punishment" because we borrow money partly instead of paying right away, and the banks would have fared badly if they had it, considering that they do not earn anything extra on it.
The same applies Halal loan, we get a kind of "punishment" = fee because we can not pay full price for example. apartment.
I feel that Halal loans have embellished the case and used the word "fee" instead of "interest".
I used the word punishment because I did not know what other word I'd use.

Answer: Charge from a halal bank to pay off the purchase price of halaleid residence halal bank is not punishing fee. Halal bank does not require from you that you should take up l?n.En Muslim is supposed to keep his appointment, do not break it. charge that appears on a halal bank includes the purchase price divided by the number of months or installments. So what you pay for halal bank which you call fee is really your purchase. And halal bank may well at the beginning of giving out loan require another fee to operate its necessary expenses, I think.

While a bank haram with haram interest, everything goes to haram things, which is absoulutt haram, no doubt. Haram banks serve the people's expense with interest, haram bank makes money from penger.Selvom one haram bank has 1 billion in profits I do not think it hesitates to claim interest from people. So interest rates are absolutely haram, no doubt. The interest rate can rise or fall and remain fixed (fixed rate) (fees as some call it misleading to antgv. Lure Muslims, this is also haram). Interest is clear given the prohibition in the Qur'an."

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Islamic banking is not sood.
Yes, I do agree that Islamic banking goes the extra mile to make it halal, as opposed to conventional banking goes straight to interest.

If that was the case- every molvi abroad in countries where insurance is mandatory wouldn't keep a car. Insurance is Haram as well. Why doesn't anyone in pw start crying when insurance is mentioned? Is it because almost everyone has insured their vehicles? Thought so.

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[faiz.aslam.121]

I goto Islamic bank with my 500,000 as down payment and ask to lease Nissan Pathfinder worth approx. 2.5 million under islamic banking. Bank evaluate my financial worth depending on past 18 month statement and offer me what ??

1. 30 installments to pay balance 2 million ? NO
2. value the Pathfinder at 3.25 million & offer me at 91000 per months for 30 months ?
thats islamic banking - agreed

3. how about the fine print which states that -if the customer fail to pay installment by 15th of each month , a service charge of 2.5% per 10 days will be charged for the current & preceeding month - ?? is that halal ??

4. if the customer default and fail to pay installment for 3 consecutive months the vehicle will be recovered at risk & cost of customer amount paid till date of confiscation will be charged as per contract, refund to the customer will be made after auction of vehicle at market value and deduction of amount & service charges due for default period.

i can post images of 1 whole file of islamic banking auctioned car contract valued at 3 mil for 24 months with down payment of 200,000 only - the customer paid 7 months and had serious financial crisis went to bank to return n cancel the lease, bank declined based on fine print over the back page of leasing agreement - 2 months later confiscation notice received he called the bank recovery & returned the car, car gone amount paid all gone & there is a recovery notice of approx 300,000 from the islamic bank because car was auctioned at low price.

This is what islamic banking is - my @$$

You have a valid argument- I would like to know which bank this was.

The most known bank to Me is DIB- Dubai Islamic bank.

Again, banks have rules.
Just because it's Islamic or should I rather say ' Islamic ' doesn't mean that you don't pay your installment on time.

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[capsat]

my dear boy am not against leasing, my elder brother leased a house, etc etc got a prius as well claiming some benefit from govt out there in Auckland ,

with my microscopically small brain & SOME knowledge of Quran, shariah & sunah I see huge PROBLEM for using word Islam to legitimize & hoodwink common people for conventional banking.

ORIX is my choice when it is about leasing.

- The bank is Oldest bank of Pakistan started "Islamic" cheating in 2010

& yes if you don't pay the rent the landlord have all the right to throw you out confiscate your saman worth of default value agreed. NOT ALL no sir.

You have a valid argument- I would like to know which bank this was.

The most known bank to Me is DIB- Dubai Islamic bank.

Again, banks have rules.
Just because it's Islamic or should I rather say ' Islamic ' doesn't mean that you don't pay your installment on time.

Sent from my HTC One_M8 using Tapatalk

[pwuser149511335937]

yes good