installment plan

American  

noun

1. a system for paying for an item in fixed amounts at specified intervals.

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installment plan British  

noun

1. Also called (in Britain and certain other countries): hire-purchase.  a system for purchasing merchandise, such as cars or furniture, in which the buyer takes possession of the merchandise on payment of a deposit and completes the purchase by paying a series of regular instalments while the seller retains ownership until the final instalment is paid

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Etymology

Origin of installment plan

First recorded in 1875–80

Example Sentences

See Examples For:

installment plan

That is perhaps because iPhone buyers aren’t as price sensitive, especially when higher costs are spread out over the many months of a smartphone installment plan.

From The Wall Street Journal ● Jul. 30, 2026

If a person arranges an installment plan, Bandebo noted that’s not reflected as a delinquent payment.

From MarketWatch ● Apr. 25, 2026

Another provision of the law allows beneficiaries to pay for drugs on an installment plan, instead of having to pay a hefty bill over a short period of time.

From Los Angeles Times ● Oct. 21, 2024

Texas A&M said it will use donor funds to make an initial payment on the $75 million-plus owed to Fisher and pay the rest with athletic department revenue on an installment plan.

From Seattle Times ● Nov. 15, 2023

They sometimes worked on the installment plan, taking little or no money up front from a defector or his family.

From "Escape from Camp 14: One Man's Remarkable Odyssey from North Korea to Freedom in the West" by Blaine Harden