Financial Terms Glossary

Hire Purchase

Formal

Old-fashioned term for the raising of a loan against some form of semi-permanent security - the most common being for an individual to buy a car. Repayment of the loan is by a number of instalments with ownership of the security passing once payments are completed. Default early and the asset may be re-possessed.

Informal

This is how you try to buy your first car! You don't have any money - but you want to get mobile, now. So, approach a bank and ask for the funds - and the bank will need security. The loan is for a car - so what simpler than using the car as security for the bank against the loan?
This is Hire Purchase.

What we do

At Shark Finesse we have developed an enterprise-grade cloud application to help businesses standardise and simplify their value engagements across the entire customer journey.

Shark, a business value engagement platform used by 1000’s of customer-facing teams globally (e.g. pre-sales, sales, value teams, and customer success) is easy to use, intuitive and usable directly with the customer to negotiate the likely business returns from investing in a solution.

By adopting the Shark approach you will fundamentally transform conversations with new and existing customers, close more business, and differentiate from the competition.
Find out how

We'd love to hear from you!

Phone
+44 (0)1256 338635
Address
Grove House, Lutyens Close
Basingstoke, Hampshire
RG24 8AG, UK