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hire-purchase system

[hahyuh r-pur-chuh s] /ˈhaɪərˈpɜr tʃəs/
noun, British
1.
a system of payment for a commodity in regular installments while using it.
Also called hire-purchase.
Origin
1895-1900
1895-1900
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for hire-purchase

hire-purchase

noun
1.
(Brit & Austral, NZ & South African)
  1. a system for purchasing merchandise, such as cars or furniture, in which the buyer takes possession of the merchandise on payment of a deposit and completes the purchase by paying a series of regular instalments while the seller retains ownership until the final instalment is paid
  2. (as modifier): hire-purchase legislation
HP, h.p., US and Canadian equivalents instalment plan, installment plan
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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