installment purchase
Buy now, pay later
An installment purchase is a buying arrangement where the buyer pays for goods or services through a series of scheduled payments rather than a single lump sum.
The seller typically retains ownership or a security interest in the item until all payments are complete.
This method makes expensive purchases like cars, appliances, and furniture accessible to buyers who cannot pay the full price upfront.
They bought the washer and dryer on an installment purchase plan.
- loanBorrowed money repaid later
- dueOwed or expected
- contractEnforceable written agreement
- debtMoney owed another
- billAmount owed, written
credit · credit check · down payment · repossession · buy now pay later · rent to own · agreement · financing · amortization · easy payments · monthly bill · layaway · consumer protection laws · collateral · balance · affordability · budgeting · furniture store
installment purchaselump sum payment
Full amount given once
one-time payment · upfront payment · cash on delivery · single payment · cash and carry
installment purchasesingle payment
install, installment, installments, installation, installations, installed, installing, installs, reinstall