hire-purchase system

[ hahyuh r-pur-chuh s ]
/ ˈhaɪərˈpɜr tʃəs /
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noun British.

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

Nearby words

  1. hircus,
  2. hire,
  3. hire out,
  4. hire purchase,
  5. hire-purchase,
  6. hired gun,
  7. hired hand,
  8. hiree,
  9. hireling,
  10. hiri motu

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