Is there a worse way of buying than hire purchase

The biggest single problem with hire purchase is simple and the clue is in the name: the word “hire”.

When you hire a car, do you own it? No, the car hire firm owns it, you are just borrowing it in return for a fee. It is exactly the same when you buy a sofa, laptop or fridge on hire purchase. Even though you now “possess” the item you do not own it, the store still does. Ownership only passes to you when you have made the final payment in your repayment plan, often two or more years after it was delivered to your house.

This is one of the reasons why if there is the slightest problem with your repayments, the store can just come round and recover the item from you with no extra paperwork. It belongs to them, not you. What is more when you signed the HP agreement you probably did not notice the clause in the agreement that said they can enter your property to recover your goods without a court order, but with the specific permission you granted them. It is a licence to invade your home.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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