Meaning of HIRE PURCHASE in English


1. chiefly Britain : a contract of hire with an option of purchase in which a person hires goods for a specified period and at a fixed rent with the added condition that if he retains the goods for the full period and pays all the installments of rent as they become due the contract shall determine and the title vest absolutely in him and that if he chooses he may at any time during the term surrender the goods and be quit of any liability for future installments upon the contract — compare conditional sale

2. chiefly Britain : the practice of buying by hire purchase

Webster's New International English Dictionary.      Новый международный словарь английского языка Webster.