lease-purchase

American  

[lees-pur-chuhs] / ˈlisˈpɜr tʃəs /

noun

1. the continuing use of property or goods under a lease for a stipulated period with option for the lessee to buy and with part of the rental charges credited toward the purchase price.

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adjective

1. of or relating to lease-purchase.

Etymology

Origin of lease-purchase

First recorded in 1950–55

Example Sentences

Online lookups of the make and model show that after paying the lease-purchase price of about $20,000, I could turn around and sell it for $28,000-$30,000.

From Slate

Although statistics quantifying the level of activity in the movement are hard to come by, the Terner Center for Housing Innovation at University of California Berkeley in a 2017 report said: “Particularly in the wake of the financial crisis, the benefits of this type of alternative model have led to a resurgence of interest in lease-purchase, and both public and private-sector actors have been exploring the viability of lease-purchase products to responsibly and sustainably help families enter homeownership.”

From Washington Post

The Department of Public Safety will get two new helicopters for $15 million and begin a $20 million lease-purchase plan for its patrol vehicles designed to replace all vehicles by 2026.

From Washington Times

His resignation occurred about the same time the company announced it had defaulted on a $400,000 lease-purchase payment to the mine’s current owner, Placer Mining Co.

From Seattle Times

Mayor Jean Stothert has said the city would issue $50 million in lease-purchase bonds, which she said can be managed without a tax increase.

From Washington Times