What is the difference between hire purchase and differed payment?

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asked Dec 10, 2022 33.0k views

2 Answers

Kornelija · Answer 1 · 2022-12-12T06:40:37+0000

Step-by-step explanation:

Hire purchase is a system by which one pays for a thing in regular installments while having the use of it but deferred payments are payments that are completely or partially postponed for financial reasons

Olynoise · Answer 2 · 2022-12-17T02:37:37+0000

Step-by-step explanation:

In deferred payment, the borrower will agreed to pay certain amount of money on the promised date. ... In hire purchase, the purchaser will be getting the belongings without paying the full price of the item. The purchasers would make down payment and the balance is paid in installments.

What is the difference between hire purchase and differed payment?

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What is the difference between hire purchase and differed payment?