hire purchase

See also: hire-purchase

English

Alternative forms

• hire-purchase (attributive)

Noun

hire purchase (countable and uncountable, plural hire purchases)

1. (British) A method of purchasing an item, where the buyer hires it and takes possession of it and pays regular installments. Ownership is only transferred on payment of the final amount. Abbreviated as HP.

Usage notes

• Although originally from the UK, the term and practice is now more widespread and used in Australasia and India.

Synonyms

• never-never

Translations

method of purchasing an item

• Finnish: osamaksu (fi), osamaksukauppa (fi)
• Maori: hoko harangotengote
• (deprecated template usage) {{trans-mid}}
• Thai: เช่าซื้อ (châo-sʉ́ʉ)

See also

• installment plan