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 ?
Collins signed five hire purchase agreements and offered colleagues a variety of cars.
Or there are hire purchase schemes, which are the most economical choice for drivers who need extensive or expensive adaptations to allow them to drive or access their vehicle.
Phoenix Mazda, of Paisley, offer a range of more than 50 Mazdas on the Motability scheme, with three different payment plans, contract hire and purchase hire schemes for new cars and a hire purchase scheme for used vehicles.
Motability enables disabled people to use their government-funded mobility allowances to obtain a new car, powered wheelchair or scooter through contract hire and hire purchase schemes.
A CAR hire boss yesterday admitted selling on nearly pounds 200,000-worth of vehicles - despite only having them on hire purchase.
Motability is the UK's leading car scheme for disabled people and provides affordable and convenient motoring with contract hire and hire purchase schemes for new cars, powered wheelchairs and scooters.
The improvement came as Cattles, which offers unsecured loans and runs hire purchase schemes, also kept bad debt levels at 2002 levels.
CASE studies researched in Wales and England revealed: nA man on a low wage borrowed cash at 42pc interest from a hire purchase company to buy a car to get to work.
Now the new Meriva is added to the fleet and can be bought via Motability hire purchase or Vauxhall's own mobility plan before later becoming available on Motability contract hire.
Graham Pickavance, prosecuting, said Vaughan ran the Wirral Caravans company and the five theft offences related to the sale and hire purchase of caravans.
As with hire purchase, you put down a deposit of, say, ten per cent and make repayments for a set period, typically three years.
CNH Capital Australia Receivables Trust will issue three classes of floating-rate notes backed by hire purchase agreements, finance leases, and loan agreements originated by CNH for the purchase or lease of new and used agricultural and construction equipment.