Which of these is not a main feature of hire purchase financing? Question 1Answer a. Each instalment is known as a hire charge for the asset's use b. The hire purchaser becomes the real owner of the asset after the final payment c. The hire purchaser becomes the lessor of the asset after the final payment d. The asset may be utilized immediately following the agreement
The option that is not a main feature of hire purchase financing is:
c. The hire purchaser becomes the lessor of the asset after the final payment.
In a hire purchase agreement, the hire purchaser becomes the owner of the asset after making the final payment, not the lessor. The lessor is typically the party that owns the asset and leases it out, which is not the case in a hire purchase arrangement.