An essential feature of a commercial hire-purchase agreement is that:

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An essential feature of a commercial hire-purchase agreement is that it either commits the user to buy the asset or gives them the option to buy it. This distinguishes it from an operating lease, which does not give the user the option to purchase the asset, and is similar to a finance lease which also gives the user the option to purchase the asset. However, in a hire-purchase agreement, the user becomes the owner of the asset once all installments have been paid, while in a finance lease, the user has the option to purchase the asset at the end of the lease term.

An Essential Feature of a Commercial Hire-Purchase Agreement Is That