to pay the owner of a vehicle, machine, computer, or room etc so that you can use it, usually only for a short time
I hired the car through Holiday Autos.
to pay a person or a business to work for you, usually only for a short time
CBT desires to hire NaviSite to perform outsourced management services.
(also hire out) to let someone use something for a short time in return for money. The term is more commonly used in spoken English rather than written English. The usual US English term for this is rent or rent out.
I hired our car out while we were away.