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Hire purchase
Meaning
Noun
●
In British English & Irish English:
A method of
purchasing
an
item
, where the
buyer
hires
it and
takes
possession
of it and
pays
regular
installments
. Ownership is only
transferred
on
payment
of the
final
amount. Abbreviated as HP.
Sourced from
Wiktionary
Synonyms
Never-Never
Hire-Purchase
Installment Plan
Long Finger
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