what are the types of hire purchase agreements 
there are two types of hire purchase agreements consumer hire purchase agreements are designed for individual consumers purchasing personal products industrial hire purchase agreements are for businesses such as a company purchasing machinery who are the parties to a hire purchase agreement the parties to a hire purchase agreement are the hire purchaser the buyer and the hire vendor the seller there can also be a financier involved in the agreement the bottom linehire purchase agreements are used to pay for very expensive consumer goods so that the buyer doesn t have to outlay a large amount of cash in one go though hire purchase agreements do include payment installments plus interest they are not considered an extension of credit they can be a manageable way for buyers to purchase expensive goods but the goods end up costing more because of the interest 