Which of the following statements about the disadvantages of…

JAMB Commerce 2023 237 views
Source: JAMB · 2023

Which of the following statements about the disadvantages of hire purchase is correct?

  1. The buyer owns the asset immediately after the first payment
  2. Hire purchase agreements often have higher overall costs due to interest ✓
  3. There are no penalties for late payments
  4. It is a risk-free method of acquiring assets

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