What is Hire Purchase?

Answer (1)

Team Legistify

  • Sector-1, Noida

A system by which a buyer pays for a thing in regular installments while enjoying the use of it. During the repayment period, ownership (title) of the item does not pass to the buyer. Upon the full payment of the loan, the title passes to the buyer.

Answered on 28 Sep 2018


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