单词 | instalment creditor hire purchase |
释义 | instalment creditor hire purchaseinstalment creditor hire purchasea contractual means of purchasing a product over an extended period of time using a CREDIT facility provided either by a financial institution such as a FINANCE HOUSE, or by the firm selling the product concerned. An initial down payment is usually required followed by monthly fixed payments (including interest charges) for a specified period. See MONETARY POLICY, CONSUMER CREDIT ACT 1974. |
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