Hire Payments

Hire payments refer to the fees paid for the temporary use of equipment, vehicles, or property. When you rent or lease an item, such as a car or machinery, you make hire payments based on the duration of the rental and agreed-upon terms. These payments typically cover the cost of using the item and may include additional charges for maintenance, insurance, or damages. Hire payments are common in various industries, enabling individuals and businesses to access necessary resources without the upfront cost of purchase.