HIRE PURCHASE

(British) a type of installment purchase plan whereby an initial down payment is followed by regular installments over a period of time until the merchandise is paid for. It differs from a credit sale in that the merchandise is not legally owned by the buyer until completely paid in full.

(British) a credit system by which debts, as for purchased articles, are paid in installments. Also called an installment plan. —2nd Lecture on Clearing Methodology Approved 25.2.91

(British) a credit system by which debts, as for purchased articles, are paid in installments. Also called an installment plan. When she gets all bogged down with economics and this and that, nnnnn - hire purchase and time payment and notes and receipts and so on, there's nothing much going to happen.