Hire-purchase (noun) Definition, Meaning & Examples

noun
  1. British, Australian, NZ and Southern African
    • 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
    • (as modifier)
Hire-purchase (noun) Definition, Meaning & Examples

More Definitions