The form of credit sales common to low income groups is

The form of credit sales common to low-income groups is hire purchase. Hire purchase is a way of buying goods where the buyer pays for them in installments over time. The buyer takes possession of the goods at the beginning of the agreement but does not own them until the final payment is made. This type of credit sale is popular among low-income groups because it allows them to acquire necessary items like household appliances, furniture, or vehicles without having to pay the full amount upfront. In a hire purchase agreement, the buyer usually pays a deposit and then makes regular payments over a period of time. The total cost of the item is often higher than if it were purchased outright, due to the interest charged on the installments. However, this method of credit sale makes it easier for low-income groups to spread the cost of the purchase over a longer period, making it more manageable for them to afford.