There are several advantages of hire purchase. Some of these include having the specific item that you want, and owning something you typically cannot afford.
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origin and development of hire purchase
Hire purchasing helps customers to buy articles at instalments through EMI,instead of paying lumpsum at a time.However, there are chances of pushing inferior articles through hire purchase by sellers. Even the customers may default and/or delay payment of instalments leading to litigation.
Some financial options offered by Chrysler include Personal Contract Hire, Baloon Hire Purchase and Hire Purchase. You can get more information about these options online at the Chrysler website.
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Hire purchase can give the good profit,
someone answer it!
origin and development of hire purchase
Hire purchasing helps customers to buy articles at instalments through EMI,instead of paying lumpsum at a time.However, there are chances of pushing inferior articles through hire purchase by sellers. Even the customers may default and/or delay payment of instalments leading to litigation.
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.
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.
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.
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caluculation of intrest under hire purchase system
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).
Hire Purchase
Paying in instalments