This is not permissible as it involves riba. If he sells you what he
has in his possession by a fixed price that is a lump sum whiteout the
possibility to ever increase the agreed price even one dime,  this is
permissible.

I’m from Singapore and everything is expensive here. I have a motorbike but it’s ending soon, so I’m planning to get another one but I’m 6k short. I can refinance with the shop but at 12% interest. Is this okay? Bike is my mode of transport for work and school. A need sheikh. Pls advice.

Riba |