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Hire purchase and credit sales





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The of expensive goods is difficult for those people who find it hard to save the full amount in . Hire puchase offers such people the to buy goods they might otherwise never be able to afford.
In a hire purchase , the buyer usually agrees to pay a and undertakes to pay off the rest of the amount in regular weekly or monthly .
If goods are bought on H,P. they are really hired. The buyer does not own the goods until the final payment has been made, and the goods cannot be resold without the agreement of the hire purchase company during this period.
Many shoppers nowadays use credit cards to shop without using money. The cards are issued by banks, large stores and other institutions who charge for the that they offer. At the end of each month, a is sent to the card holder who is expected to pay all or part of the outstanding sum.