Definition of hire purchase in English:

hire purchase

Syllabification: hire pur·chase

noun

  • British term for installment plan.
    More example sentences
    • 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.

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Pronunciation: kəːf
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a slit made by cutting with a saw