installment payments
Paying over time
Installment payments are a series of partial payments made over time to pay off a debt or purchase.
Rather than paying the full amount upfront, the buyer makes regular payments—typically monthly—until the balance is satisfied: We're making installment payments on the car.
The arrangement usually includes interest charges.
- easy paymentsDivided purchase cost over time
- dueOwed or expected
- late feesPenalties for delayed payment
- contract lawRules governing binding agreements
- amortizationGradual debt reduction schedule
interest rate · rent to own · furniture store · credit agreement · contractual obligation · purchase agreement · grace period · usury laws · buy now pay later · debt-to-income ratio · term loans · compound interest · delayed gratification · principal · monthly · loan · plan · terms
- debt paymentsdebt repayment, repayment, payoff, loan repayment, debt service
- loan paymentsloan repayment, loan balance, prepayment, periodic payments, autopay
- settlementsvillage, cities, hamlet, city, towns
- debt collectiondebt collection, garnishment, late payments, debt collector, delinquent accounts
- severanceseverance, severance pay, severance package, termination pay, separation pay
- Canadian taxesT1, T4, GST, PST, CPP
installment paymentslump sum
Entire amount at once
lump sum payment · single payment · one-time payment · full payment · balloon payment
installment paymentsprepayment
Payment made beforehand
advance payment · cash on delivery · deferred payment · layaway