hire-purchase

1 5.9

To pay for something by small regular payments while you use it until you own it

noun
/ˈhaɪə ˈpɜːtʃəs/

: alquiler con opción a compra

With a hire-purchase agreement, you can use the car while making monthly payments until it is fully yours.

Examples

Choose a three-piece suite on hire purchase in a range of fucking fabrics.

Trainspotting (1996)
She decided to acquire her new television via hire-purchase, so she could enjoy it immediately while paying over time.
Many people prefer to buy furniture through a hire-purchase plan, as it allows them to pay in manageable installments.

Synonyms

never-never

vshire-purchase

Archaic

8.8

To pay for something by small regular payments over time instead of paying all at once

requires ownership to transfer only after all installment payments are completed

How Permanent

purchase

348 1.1

hire-purchase

1 5.9

rental

50 1.9

Surface Forms

hire-purchase singular

hire-purchases plural

installment plans plural

installment plan singular

Morphology

hire-purchase = hire + purchase (semi-transparent) = hire + purchase

The components 'hire' and 'purchase' are clear, but the specific legal/financial sense 'a system of buying by installments' is a specialized institutional meaning not entirely predictable from the raw parts for all learners.

Etymology

Hire-purchase joins hire ('to rent') and purchase ('to buy'), so it is like 'rent-to-buy'. It describes a deal where you can use something while you make regular payments, and you only become the owner after you have paid in full.