Guaranteed Low Prices and Interest: Difference between revisions
From Halachipedia
→Buying on Credit
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# It is forbidden even if the seller doesn't need the money now and even if he is charging for buying on credit because it costs him more to buy from his suppliers on credit.<ref>Torat Ribbit 8:4</ref> | # It is forbidden even if the seller doesn't need the money now and even if he is charging for buying on credit because it costs him more to buy from his suppliers on credit.<ref>Torat Ribbit 8:4</ref> | ||
# If in a certain market the majority or all of the sales are down on credit and the standard price is the credit price then it can established that the regular price is the credit price and paying up front can be discounted.<ref>Torat Ribbit 8:15 based on Imrei Yosher 1:107, Vaomer Yizchak YD 56, Bet Avi YD 131, Brit Yehuda 22:8, Kitzur Dinei Ribbit of Rav Shternbuch 7:7. He explains that since this market is paid on credit it is considered like a rental (see Shulchan Aruch Y.D. 175:6).</ref> | # If in a certain market the majority or all of the sales are down on credit and the standard price is the credit price then it can established that the regular price is the credit price and paying up front can be discounted.<ref>Torat Ribbit 8:15 based on Imrei Yosher 1:107, Vaomer Yizchak YD 56, Bet Avi YD 131, Brit Yehuda 22:8, Kitzur Dinei Ribbit of Rav Shternbuch 7:7. He explains that since this market is paid on credit it is considered like a rental (see Shulchan Aruch Y.D. 175:6).</ref> | ||
# If a Jewish store has a different price for buying with a credit card than if you buy with cash it is forbidden to buy at that store with a credit card.<Ref>Torat Ribbit 17:29 based on Shulchan Aruch Y.D. 173:1</ref> | |||
====Undetermined Price (Tarsha)==== | ====Undetermined Price (Tarsha)==== | ||
# If an item doesn't have a fixed price then one can charge more for it when the buyer pays later than the delivery date. The reason is that since there's no established price the seller can set the price of the item at the higher price that the buyer will pay later. However, if there is a market price that is known<ref>Tosfot b"m 63b, Rosh b"m 5:22</ref> or the seller specifies a price for the item if one wanted to pay now and another price for buying on credit it is forbidden.<ref>Gemara Bava Metsia 65a</ref> Therefore, having a two tiered pricing system for buying regularly and buying on credit is interest and forbidden between two Jews.<ref>Shulchan Aruch Y.D. 173:1</ref> | # If an item doesn't have a fixed price then one can charge more for it when the buyer pays later than the delivery date. The reason is that since there's no established price the seller can set the price of the item at the higher price that the buyer will pay later. However, if there is a market price that is known<ref>Tosfot b"m 63b, Rosh b"m 5:22</ref> or the seller specifies a price for the item if one wanted to pay now and another price for buying on credit it is forbidden.<ref>Gemara Bava Metsia 65a</ref> Therefore, having a two tiered pricing system for buying regularly and buying on credit is interest and forbidden between two Jews.<ref>Shulchan Aruch Y.D. 173:1</ref> | ||
