Hire purchase
1) Financial arrangement whereby a finance company pays for an asset (eg a vehicle) and the buyer repays the company the capital sum plus interest and administrative charges spread over a period of time (say two to three years).
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Hire purchase 1) Financial arrangement whereby a finance company pays for an asset (eg a vehicle) and the buyer repays the company the capital sum plus interest and administrative charges spread over a period of time (say two to three years). |
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