lease-purchase

American  

[lees-pur-chuhs] / ˈlisˈpɜr tʃəs /

noun

1. the continuing use of property or goods under a lease for a stipulated period with option for the lessee to buy and with part of the rental charges credited toward the purchase price.

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adjective

1. of or relating to lease-purchase.

Etymology

Origin of lease-purchase

First recorded in 1950–55

Example Sentences

Online lookups of the make and model show that after paying the lease-purchase price of about $20,000, I could turn around and sell it for $28,000-$30,000.

From Slate • Sep. 25, 2022

His resignation occurred about the same time the company announced it had defaulted on a $400,000 lease-purchase payment to the mine’s current owner, Placer Mining Co.

From Seattle Times • Dec. 17, 2018

Norwood said a lease-purchase agreement is the better option for financing the project because CoreCivic would assume the risk of construction cost overruns and be responsible for upkeep.

From Washington Times • Dec. 2, 2017

He also arranged a lease-purchase agreement for the Boeing 727 airplane he had sold during his financial meltdown.

From Washington Post • Oct. 5, 2016

Last week Budget Bureau Director Rowland R. Hughes reported that the lease-purchase program's first year has been highly successful.

From Time Magazine Archive