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What is Understanding Hire Purchase Financing about?

Hire purchase is a form of financing where goods are leased with the option to purchase. Key features include: - Possession of goods is transferred immediately while the purchase price is paid in installments. - Ownership is transferred after payment of the final installment. - The hirer can terminate the agreement at any time before ownership transfers. - Legally, ownership passes to the purchaser after payment of the last installment, though possession is given at the start. - Both the hirer and hi

Author

Deepti Chadha

Language

EN