I am starting a new job soon and require a car for this and was wondering if you could give me some advice as I am not well equipped on knowledge on these matters regarding finance - the gentleman at Mercedes suggested the PCP route : for the car that is around 24.5k, I can pay a large deposit such as 15k and then it is set up at monthly installments of around £100 per month for around 48 months. He said I can either increase the amount eg £1000 per month or ask for a settlement figure earlier (eg within a year) and pay the rest of the car off before the interest kicks in at the end - which is in sha Allah doable for me.
Would this be considered halal?
I hope that makes sense.
Jazakallah khayr
