1.it is an expensive source of finance and in most case the interest on it may outweigh bank rates and at the end of the hire purchase contract the total installments paid may double the cost of the asset.
2.it involves a lot of formalities to obtain e.g legal implications and accounting formalities prior to
Signing Hire Purchase Agreement.
sharon kalunda answered the question on April 16, 2019 at 14:30
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(Solved)
State the advantages of using hire purchase as a source of finance.
Date posted:
April 16, 2019
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Answers (1)
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April 16, 2019
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