Concept information
Preferred term
hire-purchase and rental goods
Definition
- A hire-purchase (H-P) activity is a transaction that involves regular fees for the access to an entity, coupled with an option to buy provided that all conditions agreed in the contract are fulfilled at the end of the predetermined period. As such, H-P can be considered a type of installment credit. [Source: Encyclopedia of Consumer Culture; Hire-Purchase and Rental Goods]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/hire-purchase_and_rental_goods
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