hire-purchase

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Definitions from WordNet

Noun hire-purchase has 1 sense

hire-purchase, never-never - installment plan; "we bought a car on the never-never"
--₁ is a kind of installment plan, installment buying, time plan

Definitions from the Web

Hire Purchase

Noun: Hire purchase refers to a type of financial arrangement where a person can acquire goods by paying installments over a period of time. The buyer becomes the owner of the goods once the final installment is paid.

Sample Sentence: She bought a car through hire purchase and will be making monthly payments for the next three years.

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