In days gone by

Many moons ago, more than I care to remember if you could not afford to pay cash for something you could get it on something called hire purchase and after you paid the last installment it was yours forever. Clever that wasn't it. Then we got the credit card, same idea really but more flexible on the issue of repayments. Now of course times have moved on. Mobile phones and stuff like that are taken out on a contract, you pay your monthly fee and you can have the item. No difference or is there? Oh yes I forgot, ever thought exactly how much you have paid in the long run? I think you might find it is a lot more than credit card or hire purchase rates.