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Topic: Hire purchase

	Hire purchase - Wikipedia, the free encyclopedia
		Hire purchase (HP) is the legal term for a conditional sale contract developed in the UK, and now found in India, Australia, New Zealand, and other states which have adopted the English law concept.
		Equally, HP is advantageous both to private consumers because it spreads the cost of expensive items over an extended time period, and to certain business consumers in that the balance sheet and taxation treatment of hire purchased goods differs from outright capital purchases.
		In the United States, where the word hire most commonly refers to employment, the comparable system is called Closed-end leasing, also sometimes known as lease purchase, lease option, and rent-to-own.
	en.wikipedia.org /wiki/Hire_purchase (996 words)

	Hire purchase agreements in Ireland (Site not responding. Last check: 2007-10-30)
		Hire purchase is an agreement whereby a person hires goods for a period of time by paying instalments, and can own the goods at the end of the agreement if all instalments are paid.
		Under a hire purchase agreement, the consumer does not actually own the goods until the last installment is paid, although he or she has full use of the goods throughout the repayment period.
		It may be misleading to compare a hire purchase APR with that of a normal bank or credit union loan, as a consumer is paying for the hire of the goods and does not own them until the last installment of the agreement has been paid.
	www.oasis.gov.ie /consumer_affairs/credit/hire_purchase.html (1686 words)

	Hire Purchase (HP)
		A method of buying goods in which the purchaser takes possession of them as soon as he has paid an initial instalment of the price (a deposit) and obtains ownership of the goods when he has paid all the agreed number of subsequent instalments.
		Hire-purchase agreements were also formerly controlled by the Hire Purchase Act (1965), but most are now regulated by the Consumer Credit Act (1974).
		Hire Purchase (HP) / a method of buying goods in which the purchaser takes possession of them as soon as he has paid an initial instalment of the price (a deposit) and obtains ownership of the goods when he has paid all the agreed number of subsequent instalments.
	www.itlocus.com /glossary/hire_purchase_hp.html (631 words)

	Introduction to Hire Purchase and Leasing as sources of asset finance
		As we discussed in our introduction to asset finance, the use of hire purchase or leasing is a popular method of funding the acquisition of capital assets.
		One important advantage is that a hire purchase or leasing agreement is a medium term funding facility, which cannot be withdrawn, provided the business makes the payments as they fall due.
		In most cases the payments are fixed throughout the hire purchase or lease agreement, so a business will know at the beginning of the agreement what their repayments will be.
	www.tutor2u.net /business/finance/finance_sources_assets_leasing_advantages.asp (661 words)

	Ministry of Consumer Affairs - Business Info - Hire Purchase Contract - Introduction
		A copy of the guarantee and the hire purchase agreement (the disclosure documents) must be given to the guarantor.
		Commonly a hire purchase contract will require customers to insure goods for theft, loss, or damage as the goods remain your or the finance company's property until all payments are made.
		It is an insurance policy that covers the customer's hire purchase payments for a time if they lose their income through illness, accident, death, or redundancy.
	www.consumeraffairs.govt.nz /businessinfo/hirepurchase (4538 words)

	GST and hire purchase agreements
		The hire component relates to the use of the asset during the hire purchase agreement.
		The only reference to hire purchase in the GST Act, albeit via the regulations, is to hire purchase agreements which involve the provision of "credit" and disclose it as a separate charge.
		Those uncertainties are largely a function of the nature of hire purchase agreements and the absence in the GST legislation of a clear and consistent approach to the treatment of hire purchase agreements.
	www.findlaw.com.au /article/482.htm (4047 words)

	OFT Publishes Leaflet on Hire Purchase Agreements - Llygad Busnes/BusinessEye
		Hire purchase is a form of credit commonly used to pay for high value items such as cars, furniture or computers.
		Hire Purchase allows consumers to obtain goods which they can use straight away but the goods are owned by the lender until the money borrowed has been repaid and the consumer has exercised an option to purchase them.
		The leaflet also covers conditional safe agreements which are similar to Hire Purchase but consumers are contracted to purchase the goods and will own them once all the instalments have been paid and the conditions of the agreement have been met.
	www.businesseye.org.uk /financetax/506615.html (554 words)

	Hire-Purchase Agreement - LoveToKnow 1911 (Site not responding. Last check: 2007-10-30)
		The agreement is usually in writing, with a stipulation that the payments to purchase shall be by weekly, monthly or other instalments.
		A clause provides that in case of default of any instalment, or breach of any part of the agreement, all previous payments shall be forfeited to the lender, who can forcibly recover the goods.
		If it is not a real letting and hiring, the agreement will require registration under the Bills of Sale Acts.
	37.1911encyclopedia.org /H/HI/HIRE_PURCHASE_AGREEMENT.htm (318 words)

	Car leasing, hire purchase, cars, transit van, motorbike, motorcycle
		Hire Purchase is a finance loan agreement, under which, you, the client, obtain legal title to the car, van or bike, once all finance repayments have been made.
		In some cases, an option to purchase fee may be payable with the final payment of the hire purchase agreement.
		The legal title passes once the final hire purchaser payment has been made, although for tax purposes, the client is regarded as the owner of the vehicle from the outset.
	www.alphaleasing.co.uk /car-hire-purchase.htm (245 words)

	Hire Purchase (Commercial) . Commercial hire purchase or chp for vehicles. Financing a car through CHP
		The Commercial Hire Purchase (CHP) agreement is simply a contract where the financier (the ‘owner’) allows you (the ‘hirer’) the right to possess and use a car or other vehicle in return for regular payments.
		When the final payment of the commercial hire purchase is made, the title to the goods is transferred to you.
		With a CHP there may be significant tax advantages as you are able to claim the interest repayments as well as the depreciation of the asset whereas with a standard lease the actual repayments are the tax-deductable part of the equation.
	www.privatefleet.com.au /index.php?itemID=76&branch=3 (284 words)

	Finance Packages at PMC Office (Site not responding. Last check: 2007-10-30)
		Hire purchase and leasing can provide considerable benefits to businesses, but they are not necessarily suitable for every business or for every purchase.
		However, both hire purchase and leasing agreements are long term commitments and it may not be possible, or could prove costly, to terminate them early.
		Hire purchase and leasing remove the need to tie up resources in capital equipment, by spreading the cost and timing of the expenditure to coincide with the expected future revenue flows of the business.
	www.pmcoffice.co.uk /finance (1431 words)

	Hire Purchase \| Lease Purchase
		Hire purchase is straight forward borrowing of a fixed amount over a fixed period of time.
		We can offer hire purchase on a fixed rate from 12 – 60 months dependant on the age and price of the vehicle.
		Lease Purchase offers all the benefits of hire purchase but with the added benefit of a balloon payment at the end of the term.
	www.sccfinance.com /hire_purchase.html (204 words)

	Introduction to Hire Purchase and Leasing as sources of asset finance
		Leasing and hire purchase are financial facilities which allow a business to use an asset over a fixed period, in return for regular payments.
		With a hire purchase agreement, after all the payments have been made, the business customer becomes the owner of the equipment.
		Contract hire is a form of operating lease and it is often used for vehicles.
	www.tutor2u.net /business/finance/finance_sources_assets_leasingintro.asp (727 words)

	consumer.org.nz: Home > Legal Rights > Hire purchase
		Hire purchase means buying goods on credit, with the goods themselves being security for the loan.
		If the cash price of the product is less than $15,000, you can pay off the hire purchase early at any time and be entitled to a reduction in the interest and some of the fees you had agreed to pay.
		Goods sold on hire purchase must comply with the Consumer Guarantees Act and the Fair Trading Act.
	www.consumer.org.nz /topic.asp?docid=238&category=Legal%20Rights&subcategory=Buying%20goods%20%26%20services&topic=Hire%20purchase (1043 words)

	Bare Acts (Site not responding. Last check: 2007-10-30)
		The Court is duty bound in each case to determine the correct legal relationship between the parties by going through the document as a whole and reaching the real intention of the parties, untrammeled by the choice of phraseology in the document.
		Assignment and transmission of hirer’s right or interest under hire- purchase agreement.- (1) The hirer may assign his right, title and interest under the hire-purchase agreement with the consent of the owner, or if his consent is unreasonably withheld, without his consent.
		Provided that when such goods are seized by the owner, the retention of hire and recovery of the arrears of hire due shall be subject to the provisions of section 17.
	www.helplinelaw.com /bareact/index.php?dsp=hire-purchase (3337 words)

	Hire Purchase - Search Results - ninemsn Encarta (Site not responding. Last check: 2007-10-30)
		Hire Purchase - Search Results - ninemsn Encarta
		Hire Purchase, form of credit whereby, technically, a good is hired for a specific period at the end of which the hirer has the option to purchase...
		After the period of rationing and outright scarcity of consumer goods, more electrical and other goods became available.
	au.encarta.msn.com /Hire_Purchase.html (131 words)

	Hire purchase, leasing and GST
		Each purchase you make under a hire purchase agreement is reported as a single purchase on your activity statement in the tax period you make it.
		If you purchase the goods at the end of the lease agreement, you may be eligible to claim a GST credit for any GST you paid in the price of the purchase.
		If Melinda purchased the register from QED Finance at the end of the lease agreement, for continuing use in the business, she would be entitled to claim GST credits on the amount of GST included in the purchase price of the register.
	www.ato.gov.au /businesses/content.asp?doc=/content/14626.htm (1579 words)

	Hire Purchase Report - Chapter 2
		although the Hire Purchase Act regulates the form and contents (sections 3 and 4) of hire purchase agreements, it has not changed the legal nature of the agreement which received the approval of the House of Lords at the end of the 19th century Hire purchase is cumbersome and artificial.
		To retain the protection which the HPA gives to purchasers of motor vehicles worth more than $20,000 and small business which use hire-purchase agreements to finance the acquisition of vehicles and equipment, the Law Reform Commission of Victoria argued that the CA should be extended to protect all consumer hire-purchasers of motor vehicles.
		The purpose of treating hire and hire purchase contracts as credit sale contracts regulated under the CA was to protect some small business people, particularly truck drivers and farmers, and to prevent avoidance of the Act by formulating transactions as leases or hire-purchase transactions rather than regulated credit sale or loan contracts.
	www.parliament.vic.gov.au /sarc/Hirepurchase/hprep96b.html (5688 words)

	Volkswagen UK > Aftersales & Finance > Motability > Hire Purchase (Site not responding. Last check: 2007-10-30)
		Hire Purchase would be the ideal choice for those looking to own the vehicle at the end of the term.
		This option is particularly useful for customers who need to adapt or convert their car and who would therefore wish to keep it longer than the 3 year contract hire period.
		You can opt for a New or Used Volkswagen of your choice and you won?t be tied to the 15,000 mile a year limit set by the Contract Hire.
	www.volkswagen.co.uk /services/motability/hire_purchase (146 words)

	AmBank Group \| Personal Banking \| Hire Purchase
		Hire Purchase is the hiring of goods with an option to purchase.
		Our hire purchase facility covers all the goods listed in the First Schedule, under the Hire-Purchase Act, 1967 (Revised July 1992, Act 813) and include all consumer goods, such as goods purchased for personal, family or household purposes as well as motor vehicles such as:
		When you exercise the option to purchase under the Hire-Purchase agreement, you are actually paying the cash price of the goods and interest charged on the amount financed.
	www.ambg.com.my /p/loans/mtr/hp.asp (486 words)

	Hire Purchase (HP) - Moneyextra Financial Dictionary
		Also known as 'conditional sale', a Hire Purchase (HP) agreement is a loan linked to a specific purchase, such as a car, a furniture suite, etc. It is effectively a means of obtaining the use of an asset before payment is completed.
		An HP contract involves an initial, or 'down payment', thereafter you 'hire' the item you are buying for a fixed period, during which time you pay for it in monthly instalments, plus interest.
		As the purchaser you won't own whatever you're buying on HP until you complete the payments - fail to do so and the company that has arranged the HP agreement will be within its rights to repossess the asset in question.
	www.moneyextra.com /dictionary/hire-purchase-004147.html (202 words)

	Lease Purchase/Hire Purchase
		In the same way as outright purchase, the price you will pay for the vehicle will include VAT which, in general terms, is not recoverable for cars (there are some exceptions, for example, dual control driving school vehicles).
		This is where Contract Hire often seems cheaper because in that case the finance company, as the hirer, is able to recover all the VAT on the vehicle and pass the saving on to the end user.
		Personal Contract Hire - Personal Contract Hire is popular with individuals and employers who want to substitute a cash allowance for the traditional benefit of a company car....
	www.newlease.co.uk /lease-purchase.htm (1061 words)

	hire purchase Idofind Search - hire purchase
		Purchase highland wear on-line, browse our range of hire outfits, view your own clan tartan and clan crest.
		Hire purchase and lease options for commercial vehicles, automobiles, industrial goods, trucks, buses.
		Sunbed purchase and hire throughout the southwest Midlands.
	www.idofind.com /cgi-bin/search/idosearch.cgi?keywords=hire+purchase (490 words)

	Laiki Group - Hire Purchase
		Hire Purchase is a financial agreement between the customer and Laiki Asset Finance to hire an asset for a specific period of time for a specific rental.
		At the end of the period, and provided all rentals have been paid, the customer has the option to purchase the asset, paying a nominal amount which today is set at £10.00
		The duration of the hire purchase contract varies from 12 to 60 months depending on the customer’s requirements, the asset to be financed, and the amount of the hire purchase.
	www.laiki.com /web/w3cy.nsf/WebContentDocsByID/ID-A17DD709A5EB8BF1C2256B420041500A (118 words)

	Hire Purchase Cartoons
		Hire Purchase cartoon 1 - catalog reference mban54
		Copyright in this image is owned by the original artist, rights to reproduce or use the image may be obtained from www.CartoonStock.com.
		Related topics: aol offers, hussle, sign up, free isp internet access, trial period, free ride over, father, fathers, fatherly advice, the best things in life are free, son, sons, parent, parents, hp, hire purchase, zero percent interest, interest free credit, parental advice, isp,
	www.cartoonstock.com /directory/h/hire_purchase.asp (407 words)

	Hire Purchase - Sources of Finance
		Hire Purchase is a method of acquiring assets without having to invest the full amount in buying them.
		Typically, a hire purchase agreement allows the hire purchaser sole use of an asset for a period after which they have the right to buy them, often for a small or nominal amount.
		The benefit of this system is that companies gain immediate use of the asset without having to pay a large amount for it or without having to borrow a large amount.
	www.bized.ac.uk /learn/accounting/financial/sources/hp.htm (107 words)

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