In the Name of Allah, Most Gracious, Most Merciful.
All praise and thanks are due to Allah, and peace and blessings be upon His Messenger.
In this fatwa:
Interest-based car loan is not permissible in Islam, especially in cases like yours where car is not a pressing need or a necessity of life.
Responding to your question, Prof. Dr. Monzer Kahf, Professor of Islamic Finance and Economics at Qatar Faculty of Islamic Studies, stated:
Interest-based car loan is prohibited in Islam. Allah Almighty prohibited interest (riba) with the strongest word in the Quran and there is no necessity for a car to warrant breaking this strong prohibition. You can live without a car for years and even forever.
For the other point, it is permissible to accept any contribution, given voluntarily, to family expenses by your wife.
Allah Almighty knows best.
Editor’s note: This fatwa is from Ask the Scholar’s archive and was originally published at an earlier date.