Hire purchase (HP) is a form of credit. It is a way to buy goods when you cannot afford to pay the full amount straight away. It is often used to buy household appliances, furniture and cars. The money to pay for the goods is provided by the shop or by a finance company. You can take the goods home straight away but you don't own them until you've made the last payment. This is often called buying 'on tick', the 'drip-feed' or the 'never-never'. Sometimes shops offer interest-free hire purchase where you pay only the cash price in installments. For more information, please contact: (07) 308 7528 or email: enquiries@whaf.co.nz

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