hire purchase
noun/ˌhaɪə ˈpɜːtʃəs/
/ˌhaɪər ˈpɜːrtʃəs/
[uncountable] (British English) (abbreviation h.p., HP)
(North American English installment plan)
- a method of buying an article by making regular payments for it over several months or years. The article only belongs to the person who is buying it when all the payments have been made.
- on hire purchase I bought my first car on hire purchase.
- a hire purchase agreement
- We offer very generous hire purchase terms.
Oxford Collocations DictionaryHire purchase is used before these nouns:- agreement
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hire purchase