hire-purchase

British  

noun

1. US and Canadian equivalents: instalment plan.   installment plan.   HP.   h.p.. 

   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

---

Example Sentences

After aggressively de-risking its balance sheet, the Thai hire-purchase financing provider’s loan book appears more resilient, the analyst says.

From The Wall Street Journal • Feb. 19, 2026

A person is not the owner of jewellery they are making payments for under a lease, rental, hire-purchase or bill of sale agreement.

From BBC • Feb. 2, 2026

Management has announced plans to resume growth of its new-car hire-purchase portfolio, and the Thai bank is likely to benefit from the strong car bookings during this event and in the future.

From The Wall Street Journal • Jan. 7, 2026

Mr Johnson earned just over £13,000 a year, so finance involved a hire-purchase agreement and an extra personal loan.

From BBC • Dec. 8, 2024

If this is the "hire-purchase system," a piano-less life is infinitely preferable to braving its manifold perils and penalties.

From Punch, or the London Charivari, Volume 100, April 25, 1891 by Various