Gene 發問於 商業及金融稅金香港 · 1 十年前

What is the difference between Mortgage & Hire Purchase?

thank you~!

更新:

Mortgage : people also need to pay the installments in order to get back the items,

I still don't understand their difference, can anyone explain in details???

Thank a lot!!!! =P

3 個解答

評分
  • Samuel
    Lv 4
    1 十年前
    最愛解答

    For Mortgage, the legal title of the assets belongs to the buyer. A mortgage is a method of using property (real or personal) as security for the payment of a debt.

    In most jurisdictions mortgages are strongly associated with loans secured on real estate rather than other property (such as ships) and in some cases only land may be mortgaged.

    http://en.wikipedia.org/wiki/Mortgage

    For Hire Purchase, the legal title transfer to the buyer once he pays the final instalment. Defn of HP -- In cases where a buyer cannot afford to pay the asked price as a lump sum but can afford to pay a percentage as a deposit, the contract allows the buyer to hire the goods for a monthly rent. When a sum equal to the original full price plus interest has been paid in equal installments, the buyer may then exercise an option to buy the goods at a predetermined price (usually a nominal sum) or return the goods to the owner.

    http://en.wikipedia.org/wiki/Hire_purchase

  • ?
    Lv 6
    1 十年前

    Mortgage Loan is a kind of loan.

    Hire Purchase is a kind of purchase.

    So:- Mortgage is you loan from other (Bank) a kind of liability

    ......Hire Purchases is you want to purchase some thing (Car) a kind of willing "to purchases."

  • 1 十年前

    Mortgage抵押(要搵野俾債主係手的,有錢先屬番佢)

    Hire Purchase係分期付款,信用咭果種﹏

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