What's the etymology of 'hire purchase'?
I understand, and am not asking about, the meaning of 'hire purchase':
A system by which one pays for a thing in regular instalments while having the use of it.
North American term instalment plan
Rather, why were 'hire' and 'purchase' were adopted to describe instalment-payment plans?
'hire' already signifies 'obtainîng the temporary use of (something) for an agreed payment' that differs from an instalment plan, where the payor pays for the permanent use of something after the last instalment. So using 'hire' to mean 'lease' is not only inaccurate, but causes ambiguity and confusion.
'purchase' is obviously inaccurate. The payor hasn't purchased anything as she's still paying instalments, and the payee probably still holds the title of the object.
etymology
asked 9 mins ago
Greek - Area 51 ProposalGreek - Area 51 Proposal
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add a comment |
I understand, and am not asking about, the meaning of 'hire purchase':
A system by which one pays for a thing in regular instalments while having the use of it.
North American term instalment plan
Rather, why were 'hire' and 'purchase' were adopted to describe instalment-payment plans?
'hire' already signifies 'obtainîng the temporary use of (something) for an agreed payment' that differs from an instalment plan, where the payor pays for the permanent use of something after the last instalment. So using 'hire' to mean 'lease' is not only inaccurate, but causes ambiguity and confusion.
'purchase' is obviously inaccurate. The payor hasn't purchased anything as she's still paying instalments, and the payee probably still holds the title of the object.
etymology
asked 9 mins ago
Greek - Area 51 ProposalGreek - Area 51 Proposal
4,02184090
When one hires someone/something one usually pays by the hour or otherwise in several parts. Here hire is a noun adjunct modifying purchase. It’s saying what kind of purchase it is (because from the buyer’s perspective, he is purchasing something, and will own it in the end; he’s simply selecting a different payment scheme).
– Dan Bron
6 mins ago
add a comment |
I understand, and am not asking about, the meaning of 'hire purchase':
A system by which one pays for a thing in regular instalments while having the use of it.
North American term instalment plan
Rather, why were 'hire' and 'purchase' were adopted to describe instalment-payment plans?
'hire' already signifies 'obtainîng the temporary use of (something) for an agreed payment' that differs from an instalment plan, where the payor pays for the permanent use of something after the last instalment. So using 'hire' to mean 'lease' is not only inaccurate, but causes ambiguity and confusion.
'purchase' is obviously inaccurate. The payor hasn't purchased anything as she's still paying instalments, and the payee probably still holds the title of the object.
etymology
asked 9 mins ago
Greek - Area 51 ProposalGreek - Area 51 Proposal
4,02184090
I understand, and am not asking about, the meaning of 'hire purchase':
A system by which one pays for a thing in regular instalments while having the use of it.
North American term instalment plan
Rather, why were 'hire' and 'purchase' were adopted to describe instalment-payment plans?
'hire' already signifies 'obtainîng the temporary use of (something) for an agreed payment' that differs from an instalment plan, where the payor pays for the permanent use of something after the last instalment. So using 'hire' to mean 'lease' is not only inaccurate, but causes ambiguity and confusion.
'purchase' is obviously inaccurate. The payor hasn't purchased anything as she's still paying instalments, and the payee probably still holds the title of the object.
etymology
etymology
asked 9 mins ago
Greek - Area 51 ProposalGreek - Area 51 Proposal
4,02184090
asked 9 mins ago
Greek - Area 51 ProposalGreek - Area 51 Proposal
4,02184090
asked 9 mins ago
Greek - Area 51 ProposalGreek - Area 51 Proposal
4,02184090
asked 9 mins ago
Greek - Area 51 ProposalGreek - Area 51 Proposal
4,02184090
asked 9 mins ago
Greek - Area 51 ProposalGreek - Area 51 Proposal
4,02184090
4,02184090
When one hires someone/something one usually pays by the hour or otherwise in several parts. Here hire is a noun adjunct modifying purchase. It’s saying what kind of purchase it is (because from the buyer’s perspective, he is purchasing something, and will own it in the end; he’s simply selecting a different payment scheme).
– Dan Bron
6 mins ago
add a comment |
When one hires someone/something one usually pays by the hour or otherwise in several parts. Here hire is a noun adjunct modifying purchase. It’s saying what kind of purchase it is (because from the buyer’s perspective, he is purchasing something, and will own it in the end; he’s simply selecting a different payment scheme).
– Dan Bron
6 mins ago
When one hires someone/something one usually pays by the hour or otherwise in several parts. Here hire is a noun adjunct modifying purchase. It’s saying what kind of purchase it is (because from the buyer’s perspective, he is purchasing something, and will own it in the end; he’s simply selecting a different payment scheme).
– Dan Bron
6 mins ago
When one hires someone/something one usually pays by the hour or otherwise in several parts. Here hire is a noun adjunct modifying purchase. It’s saying what kind of purchase it is (because from the buyer’s perspective, he is purchasing something, and will own it in the end; he’s simply selecting a different payment scheme).
– Dan Bron
6 mins ago
add a comment |
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When one hires someone/something one usually pays by the hour or otherwise in several parts. Here hire is a noun adjunct modifying purchase. It’s saying what kind of purchase it is (because from the buyer’s perspective, he is purchasing something, and will own it in the end; he’s simply selecting a different payment scheme).
– Dan Bron
6 mins ago