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Hire Purchase (HP) is a
common way of paying for major items, such as, vehicle, machinery,
furniture and computers. But like any credit deal, you need to think
carefully before committing yourself. This information will help you
decide if HP is the right choice for you. It explains how an HP agreement
works and what to look out for. In cases where a
buyer cannot afford to pay the asked price for an item of property as a
lump sum but can afford to pay a percentage as a deposit, a hire-purchase
contract allows the buyer to hire the goods for a monthly rent. |
