Reference: http://www.alfawzan.af.org.sa/node/16868
Question: I am a working man with a small salary, and I do not have any other way to buy a car other than via the bank – in an arrangement whereby I rent the car [at a higher rate], which ends with me owning it. This is the only way I am able to own a car.
Response: No my brother, this arrangement is not permissible – whereby you rent the car [at a higher rate], which ends with you owning it. The Council of Senior Scholars have [thoroughly studied this matter and subsequently] issued a ruling prohibiting this. [That said] however, if you do not have a car, then you can rent one until such time you have enough funds to buy a car [outright].
