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Whd0
With bank credit, you are buying it - and making monthly payments to the bank which loaned you the money. With hire/purchase, you are buying it on a month-by-month basis, and paying the person who owns it once a month, until it is "paid off" and you then own it. Surprisingly, "hire/purchase" frequently turns out to be the more expensive of the two in the long run.
give three similarities and three difference between hire purchases and deferred payment
1. hire purchase(HP) is an agreement of hire, whereas credit sales is an agreement of sale. 2. ownership of goods is transferred from hire vendor to hire purchaser only when the last installment is paid, but in sales, ownership is transferred immediately to the buyer. 3. price is paid by the hire purchaser through installment which is treated as hire, but in sales price is paid in lumpsum or according to the agreement of sale. 4. the hire vendor can repossess the goods on default. but in sales the seller cannot take back the goods, whatever is the case. 9634357689
1. hire purchase(HP) is an agreement of hire, whereas credit sales is an agreement of sale. 2. ownership of goods is transferred from hire vendor to hire purchaser only when the last installment is paid, but in sales, ownership is transferred immediately to the buyer. 3. price is paid by the hire purchaser through installment which is treated as hire, but in sales price is paid in lumpsum or according to the agreement of sale. 4. the hire vendor can repossess the goods on default. but in sales the seller cannot take back the goods, whatever is the case.
Whd0
With bank credit, you are buying it - and making monthly payments to the bank which loaned you the money. With hire/purchase, you are buying it on a month-by-month basis, and paying the person who owns it once a month, until it is "paid off" and you then own it. Surprisingly, "hire/purchase" frequently turns out to be the more expensive of the two in the long run.
give three similarities and three difference between hire purchases and deferred payment
1. hire purchase(HP) is an agreement of hire, whereas credit sales is an agreement of sale. 2. ownership of goods is transferred from hire vendor to hire purchaser only when the last installment is paid, but in sales, ownership is transferred immediately to the buyer. 3. price is paid by the hire purchaser through installment which is treated as hire, but in sales price is paid in lumpsum or according to the agreement of sale. 4. the hire vendor can repossess the goods on default. but in sales the seller cannot take back the goods, whatever is the case. 9634357689
The development of hire purchase, which means the purchase of goods on credit, was very prevalent during the 1920s. The ability to buy on credit, shares a part in the conspicuous consumption and easy credit to unworthy candidates that contributed to the stock market crash and the Great Depression.
A bulk purchase is when you by allot of something to get it cheaper. Hire purchasing is when you take out a loan to purchase something. You pay off a certain amount each week until the item becomes yours.
Block Discountingis where Individual X, dealing business by way of hire-purchase agreements or credit-sale agreements, contracts with Finance House Y to sell his interest in those hire-purchase and credit sale agreements at a discount.
1. hire purchase(HP) is an agreement of hire, whereas credit sales is an agreement of sale. 2. ownership of goods is transferred from hire vendor to hire purchaser only when the last installment is paid, but in sales, ownership is transferred immediately to the buyer. 3. price is paid by the hire purchaser through installment which is treated as hire, but in sales price is paid in lumpsum or according to the agreement of sale. 4. the hire vendor can repossess the goods on default. but in sales the seller cannot take back the goods, whatever is the case.
You rent something out.You hire something in.
i
dry hire is vehicle hire without fuel and wet hire is vehicle hire with fuel
1. hire purchase(HP) is an agreement of hire, whereas credit sales is an agreement of sale. 2. ownership of goods is transferred from hire vendor to hire purchaser only when the last installment is paid, but in sales, ownership is transferred immediately to the buyer. 3. price is paid by the hire purchaser through installment which is treated as hire, but in sales price is paid in lumpsum or according to the agreement of sale. 4. the hire vendor can repossess the goods on default. but in sales the seller cannot take back the goods, whatever is the case.