What is the Difference between hire purchase and a finance

Answer Posted / j.jeetesh

HIRE PURCHASE::buying after leasing, leasing with the
option to buy at the end of the lease period
Finance lease::A finance lease effectively allows a firm to
finance the purchase of an asset, even if, strictly
speaking, the firm never acquires the asset. Typically, a
finance lease will give the lessee control over an asset
for a large proportion of the asset's useful life,
providing them the benefits (and risks) of ownership.

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