hire-purchase

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hire-purchase

Brit, Austral, NZ, & South African
a. 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
b. (as modifier): hire-purchase legislation
References in periodicals archive ?
HIRE PURCHASEWITH a hire purchase scheme, you pay a deposit to the manufacturer of 10 to 20 per cent and then pay off the rest in monthly instalments, usually over three to five years.
Hire Purchase (HP) agreements also remain very popular - used for 38 per cent of all deals last year.
If you choose hire purchase, you negotiate the actual purchase price with your Motability dealer.
There are two schemes, through Motability, to help disabled people obtain a vehicle: a contract hire scheme and a hire purchase scheme.
IBOUGHT a car on hire purchase for my daughter's boyfriend.
It also estimates, based on Bank of England figures, that the average person owes pounds 5,100 on a credit card and pounds 13,700 on loans, hire purchase agreements and overdrafts.
The terms of hire purchase vary, but usually involve monthly payments and you only after the final one does the product pass into your ownership.
At this time of year, there are lots of schemes from banks, building societies and hire purchase companies.
In view of the high costs involved in the adoption of digital technology, offering leasing or hire purchase services will prove useful.
e) The Contractor shall provide the customer service training on the premises of the EmployerConditions relating to the hire purchase - The duration of 36 months of hire purchase- Employer does not provide for fees, handling, etc.
The investment is a result of a pounds 75,000 hire purchase facility from Lloyds TSB Commercial Finance.
The latest 2011 model Splash is also available on 0% hire purchase and needs a deposit of 25% or pounds 2,367 for the 1.