hire purchase
Definition:
A form of purchase by installment payments in which title does not pass to the purchaser until the final payment is made. The UK conditions of a contract of hire purchase are regulated by Acts of Parliament.
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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [A. J. Brown and Michael J. Baker],.