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HIRE PURCHASE AGREEMENT: Definition, Advantages & Disadvantages

Steve Oke Chapchap Market No Comments

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Spread the love VIEWS: 527 HIRE PURCHASE AGREEMENT: Definition, Advantages & Disadvantages hire purchase noun BRITISH noun: hire purchase; modifier noun: hire-purchase a system by which one pays for a thing in regular instalmentsinstalments while having the use of it. synonyms: instalment plan, instalment-payment plan, HP, credit, finance, instalments, deferred payment, easy terms; More instalment buying; informalthe never-never “these schemes are a flexible form of hire purchase” OR A hire purchase, known as installment plan in North America, is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment and repays the balance of the price of the asset plus interest over a period of time. Meaning of Hire Purchase Agreement Courtesy REVIEWED BY WILL KENTON   What is a Hire Purchase Hire purchase is an arrangement for buying expensive consumer goods, where the buyer makes an initial down payment and pays the balance plus interest in installments. The term hire purchase is […]


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