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.

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