Disadvantages of hire purchase to the seller in business

The followings are disadvantages of hire purchase to the seller:

The seller takes risks in selling the goods and services to the customers without knowing whether the customer will complete payment for the remaining monthly installments.

Unlike cash where it is sell and forget about transaction,in hire purchase the seller has to sell the goods to customer as he/she keeps of remembering transactions by keeping records for the initial deposits and monthly installment's to be paid by customers who purchased goods and services through hire purchase.

Goods possessed back by customer defaults in payments are sometimes in most cases not in good condition thus this is big loss to the seller.

The seller may not offer certain after sales services,these will in some instances make the customers not to get interested in purchasing the goods and services.

Comments

  1. Sandy8 January 2020 at 13:44

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  5. pallavi12 June 2020 at 12:12


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