hire-purchase system

noun British.
a system of payment for a commodity in regular installments while using it.
Also called hire-purchase.


Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To hire-purchase
World English Dictionary
(Brit), (Austral), (NZ), (South African) HP, h.p., instalment plan, US and Canadian equivalents: installment plan
 a.  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
 b.  (as modifier): hire-purchase legislation

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
Cite This Source
Copyright © 2014 Dictionary.com, LLC. All rights reserved.
  • Please Login or Sign Up to use the Recent Searches feature