- Goods belong to seller until last instalment is paid
- Buyer is tempted to buy more than he can afford
- Expensive way of buying goods/H.P price is normally higher than cash price
- Only a few (limited) types of goods are bought on hire purchase
- Goods may be repossessed if buyer defaults payment of instalments
Kavungya answered the question on April 1, 2019 at 08:26
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