hire-purchase system

[ hahyuh r-pur-chuh s ]
/ ˈhaɪərˈpɜr tʃəs /

noun British.

a system of payment for a commodity in regular installments while using it.

Words nearby hire-purchase system

Origin of hire-purchase system

First recorded in 1895–1900
Also called hire-pur·chase.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019

Examples from the Web for hire-purchase

British Dictionary definitions for hire-purchase

hire-purchase

noun

British, Australian, NZ and Southern African
  1. a system for purchasing merchandise, such as cars or furniture, in which the buyer takes possession of the merchandise on payment of a deposit and completes the purchase by paying a series of regular instalments while the seller retains ownership until the final instalment is paid
  2. (as modifier)hire-purchase legislation
Abbreviation: HP, h.p. US and Canadian equivalents: instalment plan, installment plan
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012