January 2023

Hire Purchase

By |2022-09-15T12:43:49+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

TV Sales and Hire offers Hire Purchases. TV Sales and Hire offers Hire Purchases. ZIMSEC O Level Commerce Notes: Hire Purchase

  • Is a method of buying consumer durables such as Television sets on credit.

Characteristics

  • A written agreement between the buyer and seller is required.
  • A deposit is paid followed by installments (usually on a […]
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Advantages and disadvantages of Hire Purchase to the buyer

By |2022-09-15T12:43:48+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

A furniture store. Image credit householddesigns.rock A furniture store. Image credit householddesigns.rock ZIMSEC O Level Commerce Notes: Hire Purchase

Advantages to buyer

  • There is no need for the buyer to raise the full purchase amount at once.
  • The buyer can use the goods while paying for them.
  • The profits generated from using the good(s) […]
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Advantages and disadvantages of Hire Purchase to the seller

By |2022-09-15T12:43:47+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Furniture shop. Image credit roomandboard.com Furniture shop. Image credit roomandboard.com ZIMSEC O Level Commerce Notes: Hire Purchase

Details shown on Hire Purchase goods

  • A description of the goods.
  • The cash price of the goods.
  • The total Hire Purchase Price i.e. the cash price + the relevant finance charges
  • The required deposit amount.
  • The amount and number […]
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