Definition of hire purchase in English:

hire purchase


mass nounBritish
  • A system by which one pays for a thing in regular instalmentsinstalments while having the use of it.

    • ‘Taking out an unsecured personal loan or hire purchase are the two traditional ways of funding a new car purchase.’
    • ‘This represents Britain's credit card, hire purchase and loan companies, which between them control about one third of British consumer debt.’
    • ‘This is typically offered when a consumer borrows: be it mortgage, a personal or car loan, hire purchase agreement or credit card.’
    • ‘There are four main finance deal options - the unsecured car loan, hire purchase, leasing and the personal contract purchase.’
    • ‘But many aren't, and often assume - wrongly - that there is little they can do about their credit card and hire purchase agreements.’
    • ‘The four most popular options include hire purchase, car loan, leasing and personal contracts.’
    • ‘People have very high levels of mortgages, hire purchase payments, credit card payments, and debts of all kinds.’
    • ‘Interestingly, the majority of new cars are financed by car dealers, where almost all financing is through hire purchase agreements.’
    • ‘The easy availability of loans, attractive hire-purchase schemes, and credit card facility enable people to translate their desires into demand.’
    • ‘Its sophisticated financial products include hire purchase, leasing, insurance brokerage as well as insurance premium financing.’
    • ‘Classes would also provide drug education and advice on social security benefits, mortgages, financial services and hire purchase.’
    • ‘Then make a list of all you owe, like mortgages, hire purchase agreements, loans or credit.’
    • ‘Other forms of debt for asset purchases, such as hire purchase and leasing, tend to be difficult for start-up businesses.’
    • ‘At the same time, credit card companies and hire purchase outfits are queuing up to let us spend money we don't have yet.’
    • ‘The hire purchase allows a company to build assets without tying up a huge amount of capital money that could be used to grow the business.’
    • ‘Namfisa is responsible for the supervision of micro-lenders, hire purchase outlets and leasing concerns under the Usury Act.’
    • ‘The first expensive consumer durable and symbol of respectability, bought on hire purchase, was the piano.’
    • ‘I was actually employed by my father as a radio and TV salesman and hire purchase clerk.’
    • ‘Many of these people were talked into getting things on hire purchase.’
    • ‘A credit search is carried out every time you apply for an item such as a mortgage, car loan or hire purchase agreement.’
    instalment plan, instalment-payment plan, HP, credit, finance, instalments, deferred payment, easy terms
    View synonyms


hire purchase