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English definition of “the never-never”

the never-never

uk   /ˌnev.əˈnev.ər/ us    /-ɚˈnev.ɚ/ UK informal
on the never-never using a system of payment in which part of the cost of something is paid immediately and then small regular payments are made until the debt is reduced to nothing: I don't like buying things on the never-never because they charge you such a lot in interest.Renting, hiring and hire purchase in general Mortgages and real estateRenting property
(Definition of the never-never from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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