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Presentation on Hire Purchase and Leasing

Presentation on Hire Purchase and Leasing

Ratings: (0)|Views: 14,001|Likes:
Published by manoj
a good presentation bout hire purchase & leasing
a good presentation bout hire purchase & leasing

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Categories:Business/Law, Finance
Published by: manoj on Oct 12, 2009
Copyright:Attribution Non-commercial


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Hire purchase
Hire Purchase is an agreement to hire an assetover a predefined period with an option topurchase as the end of the agreement. 
With a hire purchase agreement, after all thepayments have been made, the businesscustomer becomes the owner of theequipment. This ownership transfer eitherautomatically or on payment of an option topurchase fee
Under hire purchase system, the buyer takespossession of goods immediately & agrees topay the total hire purchase price ininstalments
Each instalments is treated as hire charges
 The ownership of goods passes from buyer toseller on the payments of the instalments
In case the buyer makes any default inpayments of any instalments the seller hasright to repossesthe goods
Normally a deposit is requested
i.e. 10%
Funding Period- periods are normallybetween 3-7 years.

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