hire purchase


Also found in: Dictionary, Thesaurus, Legal, Acronyms, Encyclopedia, Wikipedia.

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 ?
Once their application has been accepted, the customer pays all, or part, of their allowance to Motability for the duration of the contract hire or hire purchase agreement.
To buy on hire purchase, the agreement has to run for at least two years if you buy a used car, or four years if you go for a new one.
With hire purchase you typically pay a deposit and then pay regular monthly payments.
Another alternative is a personal contract hire scheme, similar to a hire purchase agreement.
The group, which offers unsecured loans and runs hire purchase schemes, stopped lending to around 36,000 customers after using the new system to analyse their credit quality.
Leganza and Matiz models are offered on 0% hire purchase with 50% deposit and balance payable over 12 months.
Motability also offers a Hire Purchase Scheme for powered wheelchairs and scooters.
MHS, which has branches in Tamworth and Northampton, will use the cash injection to increase its hire purchase facilities from pounds 25 million to pounds 45 million over the next three years and boost turnover to pounds 25 million.
This is the first securitization of automobile and equipment commercial hire purchase receivables which have been originated by Orix Australia Corp.
As well as a new special edition MX-5 Icon in red, white or blue, the MX-5 soft-top is offered with 0 per cent hire purchase (up to three years with 50 per cent deposit) or 4.
31, 1996, is Thailand's ninth-largest finance and securities company, offering a wide range of finance and securities company activities including investment banking products, hire purchase, and margin lending.
Motability customers agree to pay all, or part of their Mobility Allowance - either Disability Living Allowance or War Pensioners' Motability Supplement - depending on their choice of vehicle, for the duration of their contract hire or hire purchase agreement.