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 ?
To West German critics such as Ropke, installment buying more urgently presented a social- and political problem.
131) Virtually every initiative to reform the legal framework for installment buying thus included provisions that called for the clear differentiation between cash and credit prices so as to ensure that the cost of credit purchasing would be clear and born only by the customers who made use of it.
Informal credit investigated in this paper included installment buying, rotating savings, credit associations and the lending club.
Figure 1: Participation by active members in Forms of associations Series 1 Formal finance 4 Lending club 20 Fixed fund 24 Installment buying 22.