hire purchase


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Hire Purchase

The right to purchase an asset by the user of the asset according to a pre-agreed method. The user may be the owner for tax purposes.

Hire Purchase

A British and Commonwealth term for closed-end leasing. See also: Rent-to-own.

hire purchase

see INSTALMENT CREDIT.

hire purchase

see INSTALMENT CREDIT.
References in periodicals archive ?
Hire purchase enables it to buy equipment and vehicles upfront, without affecting day-to-day cashflow.
According to the Finance and Leasing Association, the rise is a result of the good deals currently available on hire purchases, as retailers try to tempt customers through their doors.
But unlike a hire purchase agreement, where the cost of the car is paid off during the finance term, if you choose a PCP plan then a portion is set aside at the beginning of the contract, known as the minimum guaranteed future value.
Interest-free hire purchase finance offers available on the SX4 and Grand Vitara models will also continue until the end of March, both requiring a 50 per cent deposit.
Suzuki's 0 per cent APR three-year hire purchase finance offers on SX4 and Grand Vitara models with 50 per cent deposit will also continue until the end of September.
Suzuki's 0% APR three-year hire purchase finance offers on SX4 and Grand Vitara models with 50% deposit will also continue until the end of September.
12m after EMS made capital repayments of more than pounds 600,000 on hire purchase debts.
Some customers may prefer to buy their own car, in which case Motability's Hire Purchase scheme might be for them.
The scheme will include zero percent APR hire-purchase on a two-year hire purchase contract, three year hire purchase with APR's from 4.
Motability customers agree to pay all or part of their Mobility Allowance, depending on their choice of vehicle, for the duration of their contract hire or hire purchase agreement.
The new finance deals include 0% hire purchase offers and low-rate personal contract purchase terms.