Definition of hire purchase in English:
British term for installment plan.
- 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.
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.