So coming back to the question, is anyone able to summarise what the difference is between a Haram and Halal lease? I still don’t fully understand
In essence, a halal lease and conventional lease contract are the same. With the only difference being no late fees being built into the contract.
Leasing is just long-term car hire. Conventional plans obviously have late fees built in as well as other fees. An Islamic lease would not include these fees such as damage and late fees.