Define: Hire-purchase price
Hire-purchase price means total sum payable by a hirer to finalize a purchase under an agreement, excluding any penalties or compensations.
Hire-purchase price means total sum payable by a hirer to finalize a purchase under an agreement, excluding any penalties or compensations.
Relevant Circumstances
- When a hirer is buying an asset by instalments under a hire-purchase contract
- If the total payable excludes penalties or default fees from the headline price
- Where statutory consumer credit protections apply to hire-purchase agreements