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hire-purchase system

[hahyuh r-pur-chuh s]
noun British.
  1. a system of payment for a commodity in regular installments while using it.
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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. 2018