Is buying on instalments or lay-by permissible?

“In principle, it is permissible to have a discounted fee for advance payments and normal fee for monthly payments. If the instalment amount of £12 is specified for every month and it will not fluctuate, then it is permissible. This is not interest.”

“If the instalments are fixed for a fixed period then this is not sood and interest.”

“In the enquired case, if the cancellation of the lay-by involved actual work/labour, such as transporting the item back to the warehouse etc., then actual costs incurred may be charged. If there are no costs incurred to the seller, it will not be permissible for him to charge a fee.”

“In a lay-by transaction, the money paid as a deposit by the customer will be regarded as an amānat (trust) in the hands of the seller and will only be regarded as a payment for the purchased item when the last instalment is paid off.”