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Paying in instalments

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Paying in instalments

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origin and development of hire purchase

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Hire purchase can give the good profit,

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One advantage of hire process is that it allows low-income individuals to purchase items that would otherwise be out of their budget. Hire purchase is also known as installment plan.

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The legal term for hire purchase is a contract. Companies may prefer using hire purchase because it spreads the costs of expensive items over a period of time.

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