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Answer Quiz

Hire purchase loans: What do you need to know?

A hire purchase loan is a type of instalment plan you can use to purchase an asset. Most hire purchase agreements are taken for car loans.

What do you need to know about hire purchase loans before signing up for one?

In this video, you will learn how hire purchase loans work as well as basic hire purchase terms. You will also understand your rights and obligations as a hirer, and learn how to compare different types of loans to find the most suitable one for yourself.

Ready to buy a car? Master your hire purchase basics first before signing up for a loan.



Lesson Quiz

When taking up a flat rate hire purchase loan, you’re actually paying on: