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HIRE PURCHASE

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hire purchasenoun
Wiktionary (English) • 2026
Wiktionary contributors (https://en.wiktionary.org/wiki/hire_purchase#English) • CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0/) • via Kaikki (https://kaikki.org/dictionary/English/)
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A method of purchasing an item, where the buyer hires it and takes possession of it and pays regular instalments. Ownership is only transferred on payment of the final amount. Abbreviated as HP.

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