Financial Terms

Hire Purchase


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.


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.