A sales agreement whereby the buyer takes possession but not title to goods is called?

The sales agreement whereby the buyer takes possession but not title to goods is called a hire purchase. Hire purchase is a type of installment purchase where the buyer takes possession of the goods but pays for them in installments over time, with the seller retaining title to the goods until the final installment is paid. This arrangement is commonly used for high-value items such as cars or appliances, where the buyer cannot afford to pay the full price upfront but needs to use the item immediately. The buyer is required to make regular payments until the full price of the item is paid, after which the seller transfers ownership to the buyer.