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 ?
After 1915, many personal finance loans enabled debtors to pay off retail installment plan obligations.
INCENTIVE: Linda Norris's paintings can now be bought by collectors on an interest-free installment plan
The interrelated phrases layaway man and installment plan, which have multiple connotations, carry the meaning of "Set No.
The said online installment plan assures Argomall users that the transactions are secure and legitimate, even without visiting a physical store.
CEO Tim Cook went on Good Morning America shortly after last year's unveiling in order to (https://www.fool.com/investing/2017/09/19/how-tim-cook-justifies-iphone-xs-1000-price-tag.aspx) justify the price , arguing that most people buy phones on installment plans, spreading out the cost over time, and that smartphones have become "so essential" in people's daily lives that the devices provide more than enough value to justify the cost.
Customers are offered not just the option of zero-interest monthly installment plans but good discounts and full refund of the purchases among other attractive financing options.
ISLAMABAD -- Faysal Bank Limited (FBL), one of the leading banks in Pakistan, together with Dolmen Group yet again steps forward to offer the first ever 0% installment plan for Faysal Bank Credit Cards customers.
M2 EQUITYBITES-November 15, 2016-FlightLayAway.com begins installment plan for purchase of airline tickets
With this alliance now FBL customers have the flexibility to make payments and book any product with the support of an installment plan with their own FBL Credit Card at zero markups.
Ufone together with Faysal Bank Limited (FBL) has announced the launch of iPhonebased installment plan of the year, whereby customers could own an iPhone 6 along with telecom goodies for as low as Rs 5,000 month inclusive of all taxes that too without any upfront cost.
This new payment solution allows card holders to split their payments instantly at the merchant counter to a zero per cent installment plan for tenures of their choice as opposed to the current conventional process of cardholders having to call for conversion of their purchases to installments and then wait for the agent to call back for a confirmation.
The blast was so powerful that it devastated the entire shop that sells motorcycles using installment plan. The blast could have wrought havoc around, had the explosion taken place during daytime, as congested Ichhra market area usually bristles with the shoppers jostling around all day long on 15-foot wide road lined with vendors on both sides.