Hire-purchase (Noun)
Meaning
Installment plan; "we bought a car on the never-never".
Classification
Nouns denoting possession and transfer of possession.
Examples
- They agreed on a hire-purchase plan, allowing them to make monthly payments over two years for the new sofa.
- After researching and comparing different deals, she finally settled on a hire-purchase arrangement to finance her first home.
- When her mother fell ill, the family took advantage of a hire-purchase plan to purchase medical equipment, rather than having to pay upfront.
- Paying by hire-purchase gave him more time to focus on growing his business before settling the balance in full.
- Browsing in a 1970s nostalgia shop reminded him of his grandmother's common phrase, "we bought our television on the never-never" – essentially a hire-purchase agreement.