Definition of hire purchase in English:

Share this entry

hire purchase

noun

[mass noun] British
A system by which one pays for a thing in regular instalments while having the use of it.
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.
Synonyms

For editors and proofreaders

Line breaks: hire pur|chase

Share this entry
 

What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.