hire purchase BrE
installment plan AmE

Years ago there was something called hire purchase.

When I first started, I had a car on hire purchase.

'Then maybe I could get a fridge on hire purchase.'

I've bought a water heater on 10 years' hire purchase and what the gas company don't know is that I am drinking myself to death.

And the other way of doing it was to go on hire purchase.

And it was all in the days before credit cards, when hire purchase was king.

Do you need a licence to extend hire purchase or other credit facilities?

With hire purchase, the business owns the asset once all the payments have been made.

Worthington also strongly supported the use of hire purchase as "thoroughly good and sound business".

Finance Houses provide funds for hire purchase, leasing and trade stock financing.