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.
The University of Michigan's 1954 Survey of Consumer Finances found that 50% of American households regarded installment buying as a good idea while only 37% more or less strongly opposed it.
Public debate in Germany, which long focused on the dangers inherent in installment buying and chided it for its supposedly un-bourgeois character, further helped to make credit less available than in the United States where the credit industry and others promoted an image of consumer credit as modern thrift and an access to a middle-class life-style.
Figure 1: Participation by active members in Forms of associations Series 1 Formal finance 4 Lending club 20 Fixed fund 24 Installment buying 22.