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installment plan
(redirected from hire purchase)

   Also found in: Dictionary/thesaurus, Legal, Financial, Acronyms, Wikipedia 0.01 sec.
installment plan (esp Canadian), instalment plan
US and Canadian a system for purchasing merchandise, such as cars or furniture, in which the buyer takes possession of the merchandise on payment of a deposit and completes the purchase by paying a series of regular instalments while the seller retains ownership until the final instalment is paid


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The Public Bank Group is one of Malaysia's largest integrated banking groups offering a comprehensive array of financial services which include commercial banking, merchant banking, offshore banking, credit/debit card services, Islamic banking services, deposit taking and finance, hire purchase financing, leasing, factoring, stock and share broking, trustee and nominee services, and sale and management of unit trust.
Mobile phones, hire purchase and credit cards are the biggest causes of teenage debt.
In view of the high costs involved in the adoption of digital technology, offering leasing or hire purchase services will prove useful.
 
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