hire purchase

(redirected from Commercial hire purchase)
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  • noun

Synonyms for hire purchase



References in periodicals archive ?
Established in 1998, Macquarie Leasing offers products including finance leases, novated lease agreements, chattel mortgage and commercial hire purchases for motor vehicles and other income producing plant and equipment.
The underlying assets are fixed-rate operating lease contracts, not fixed-rate commercial hire purchase and finance lease contracts; -- The residual value amounts on the operating leases have been securitized, but they are not contractual payment obligations of the borrowers, and there is no indemnity from an appropriately rated counterparty for the residual value amounts; and -- Recovery of the residual value amounts will be sourced from the proceeds received from the sale of the asset's underlying collateral, namely passenger vehicles, utilities, and light trucks (the vehicles), which exposes noteholders to vehicle resale risk.
This is the first securitization of automobile and equipment commercial hire purchase receivables which have been originated by Orix Australia Corp.
Eden will issue the rated notes and unrated seller note, and use the proceeds of the notes to initially purchase, via equitable assignment, an A$207 million pool of fixed-rate commercial hire purchase contracts, and associated receivables interests.
1 class A1 notes and A$200 million automobile and equipment commercial hire purchase (18%) and finance lease (82%) pool-backed note securitization.
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