Hire Purchase Stocks List
|PCF||D||Private & Commercial Finance Group Plc||0.00|
|BIRG||A||Bank of Ireland Group Plc||0.00|
|MFX||C||Manx Financial Group Plc||0.00|
|MHID||D||Mahindra & Mahindra Limi||0.00|
View all Hire Purchase related ETFs...
|2021-05-10||BIRG||New 52 Week Closing High||Bullish|
|2021-05-10||BIRG||New 52 Week High||Strength|
|2021-05-10||MFX||Crossed Above 200 DMA||Bullish|
|2021-05-10||MFX||Wide Range Bar||Range Expansion|
|2021-05-10||MFX||Reversal New Highs Setup||Bullish Swing Setup|
|2021-05-10||MFX||MACD Bullish Centerline Cross||Bullish|
|2021-05-10||MFX||Crossed Above 20 DMA||Bullish|
|2021-05-10||MFX||Pocket Pivot||Bullish Swing Setup|
|2021-05-10||MFX||MACD Bullish Signal Line Cross||Bullish|
|2021-05-10||MFX||Crossed Above 50 DMA||Bullish|
|2021-05-10||MHID||Non-ADX 1,2,3,4 Bearish||Bearish Swing Setup|
|2021-05-10||PCF||50 DMA Support||Bullish|
|2021-05-10||PCF||Bollinger Band Squeeze||Range Contraction|
|2021-05-10||PCF||20 DMA Support||Bullish|
A hire purchase (HP), known as installment plan in North America, is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g. 40% of the total) and repays the balance of the price of the asset plus interest over a period of time. Other analogous practices are described as closed-end leasing or rent to own.
The hire purchase agreement was developed in the United Kingdom in the 19th century to allow customers with a cash shortage to make an expensive purchase they otherwise would have to delay or forgo. For example, in cases where a buyer cannot afford to pay the asked price for an item of property as a lump sum but can afford to pay a percentage as a deposit, a hire-purchase contract allows the buyer to hire the goods for a monthly rent. When a sum equal to the original full price plus interest has been paid in equal installments, the buyer may then exercise an option to buy the goods at a predetermined price (usually a nominal sum) or return the goods to the owner.
If the buyer defaults in paying the installments, the owner may repossess the goods, a vendor protection not available with unsecured-consumer-credit systems. HP is frequently advantageous to consumers because it spreads the cost of expensive items over an extended time period. Business consumers may find the different balance sheet and taxation treatment of hire-purchased goods beneficial to their taxable income. The need for HP is reduced when consumers have collateral or other forms of credit readily available.
These contracts are most commonly used for items such as car and high value electrical goods where the purchasers are unable to pay for the goods directly.