Hire purchase

If the buyer defaults in paying the installments, the owner may repossess the goods, a vendor protection not available with unsecured-consumer-credit systems.

HP is frequently advantageous to consumers because it spreads the cost of expensive items over an extended time period.

Business consumers may find the different balance sheet and taxation treatment of hire-purchased goods beneficial to their taxable income.

Suppose that the seller makes false claims as to the quality and reliability of the goods that induce the buyer to "buy".

To combat this, some jurisdictions, including Ireland, make the seller and the finance house jointly and severally liable to answer for breaches of the purchase contract.