Interest on a Vehicle Inspection Payment
Question
Is it permitted to pay for a vehicle inspection in installments when credit interest is charged for this?
In effect, my credit card company is the one charging it.
In effect, my credit card company is the one charging it.
Answer
Shalom u’vracha.
Since the interest is paid to the credit card company, and credit card companies have a proper heter iska, there is no problem on the company’s side.
However, one should note that the borrower must have an “iska” to which the agreement can apply, or land in Eretz Yisrael, which is also considered an iska under the present circumstances, since prices are consistently rising.
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