Advantages of hire purchase buying to the customers in business

The followings are advantages of hire purchase buying to the customers:

Since hire purchase is the purchasing of goods and services whereby the customer purchases goods from the seller by paying initial deposit and paying the remaining amount in monthly installment's,then the customers has the following advantages:

The customer possess the goods and he/she uses the goods as he/she organizes himself/herself to pay the remaining monthly installments.

The customer gets the chance to possess expensive goods since he/she cannot strain himself/herself to accumulate large amount of money to purchase the said good when it is to be purchased in cash.

The customer can also be able to manage other bills as well since he/she has not put all the money in one place incase he/she had purchases the good through cash.

The customer can even decided to sell the good at much hire price than that of hire purchase cost,in this case,the customer will also make profits since he/she has to pay the seller his/her hire purchase cost while the remaining amounts become the profits to the customer.

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