Zoho Bookings & SalesIQ Alignment

Disclaimer

The content on this website is for educational purposes only and does not constitute financial, investment, legal, or professional advice.

Neither FinE, nor associated institutions, including NSE, BSE, MCX, and NCDEX, assume any responsibility for investment decisions made based on this information.

Please consult a qualified financial professional before making investment decisions.

< Back

Hire Purchase

Meaning: 

Hire Purchase (HP) is a way of buying goods by paying in installments. You get the product first, but you only become the owner after making the final payment. In simple words, you hire the product now, pay gradually, and become the owner after full payment.


Example:

For instance, if you buy a bike through hire purchase, you pay a certain amount every month until you finish paying, and then the bike is yours.


How to understand Hire Purchase:

It makes expensive items easier to buy because you don’t have to pay all at once.
It helps people own things like vehicles and appliances without needing all the money upfront.


Importance of Hire Purchase:   

Hire purchase allows you to manage your money better by spreading payments over time.

Launch your GraphyLaunch your Graphy
100K+ creators trust Graphy to teach online
FinE Financial Empowerment for Everyone 2025 Privacy policy Terms of use Contact us Refund policy