In the Elton John/Bernie Taupin song “Someone Saved My Life Tonight” there is a line near the end of the song that goes something like “Clinging to your stocks and bonds, paying your H.P. demands forever”.
I know that stocks and bonds are… but what are H.P. demands?
Steve
Hire Purchase. Similar to a lease.
I believe the US term is “Installment Plan”. Unlike a sale on credit, where the goods are yours and you just owe the store the money, under HP title doesn’t pass from the store to the purchaser until the last payment has been made.
It’s usually used for TVs, etc.