Does a lower payment mean that Islamic finance is better?

Not necessarily.

Key points

• The monthly payment might decrease because the loan term is longer, in which case the total amount you'll pay will increase.

• Ask for the selling price or total obligation, the number of installments, the down payment, fees, and the early settlement amount.

• The right decision should be based on the total cost and contract terms, not just the monthly payment.

The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.

Source

• AAOIFI — Sharia Standards