hire purchase


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hire purchase

n. Chiefly British
Purchase of an item on an installment plan.

hire purchase

installment plan
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hire purchase

noun credit, H.P., finance, easy terms, the never-never, installment plan buying a car on hire purchase
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References in periodicals archive ?
Establishment of a multi-annual framework contract for the leasing, rental or hire purchase, with or without option to buy, of new and used radio frequency, microwave, and quantum technology equipment.
Jonathan Thacker, owner at The Walsall Wheelbarrow Company, said: "The hire purchase facility has enabled us to invest in top of the range machinery that will increase our efficiency without having a negative impact on our working capital.
Hire purchase works in a similar way to PCP, in that you have to pay a deposit at the outset followed by monthly payments, but there's one key difference.
But he did not make a single repayment, and spent the following year avoiding the hire purchase firm.
He added that buying through hire purchase accorded everyone an opportunity to buy the furniture by paying little at a time.
The car being of satisfactory quality will have been a term of the hire purchase agreement and, on this basis, Kevin can get the agreement terminated.
Almost half (47.9 per cent) the population in Greece were in arrears with mortgage, rent, utility bills or hire purchase payments in 2016.
HIRE PURCHASE OR PERSONAL CONTRACT PURCHASE With a hire purchase agreement, you purchase the car outright but don't actually own it until the final payment is made.
Fortis submitted that there was no 'bailment by description' within the meaning of section 9 of the Supply of Goods (Implied Terms) Act 1973 arising under its hire purchase agreement.
The Motability scheme enables the person you're looking after, or you if you're looking after a child, to obtain a car, wheelchair or scooter through contract hire or hire purchase. The contract hire car scheme offers a mobility package that takes away many of the pressures of being a car owner.
Hire purchase involves monthly payments, the equipment is "owned" once the full amount of the contract is paid.