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What is Hire Purchase Explained: Key Features & Differences about?

The document discusses hire purchase, which is defined as a transaction where goods are leased with the option for the renter to purchase them by making installment payments. Key features of hire purchase include immediate possession by the renter, ownership transferring when final payment is made, and the seller having the right to repossess unpaid goods. It also compares hire purchase to credit sales and installment sales, and outlines RBI guidelines and the differences between hire purchase and leasing a

Author

shlaka

Language

EN