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Hire purchase refers to a financial arrangement where a buyer can acquire goods by paying an initial deposit followed by regular installments. Common examples include purchasing vehicles, furniture, and home appliances. In this arrangement, the buyer typically gains the right to use the item immediately but does not own it until all payments are completed. Once the final payment is made, ownership is transferred to the buyer.
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What are the examples of short term financing?
Loan, leasing, hire purchase
When was the Origin or development of hire purchase?
origin and development of hire purchase
Where can one purchase car hire insurance in Boston MA?
Car hire insurance is available from many different places in the Boston, MA area. Some examples of car hire insurance locations include AVIS and Hertz.
What are the advantages of hire purchase as a source of finance?
Hire purchase can give the good profit,
Advantage of hire purchase?
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.
What means repossesion as regard to hire purchase?
If a company fails to make it's repayment under the hire purchase agreement then the loan providers can tale the goods bought under the hire purchase as settlement for the loan.
Why would a company use hire purchase?
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.
What is the explanation for the features of hire purchase system?
higher purchase
Solve you a problem on hire purchase system?
caluculation of intrest under hire purchase system
What is the adjective for hire?
The verb to hire has the participle adjectives hiring and hired. For the noun hire, it can be used as a noun adjunct (hire car, hire purchase).
What is the meaning of hp?
Hire Purchase
Hire purchase?
Paying in instalments
