Crossword Genius

Old carriage office memo and article on hire purchase going all way the back (7)

Ross

I believe the answer is:

phaeton

I'm a little stuck... Click here to teach me more about this clue!

'old carriage' is the definition.
'phaeton' can be an answer for 'carriage' (thesaurus). I am not sure about the 'old' bit.

I cannot understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for phaeton that I've seen before include "4-wheeled carriage" , "transport" , "Coach" .)

I've seen this clue in the Irish Times and the Irish Times (Crosaire).
Want a hint initially instead of a full solution? Install my app