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

Originally proposed by Beardsley Ruml, an executive at Macy’s department store who encouraged shoppers to buy on the installment plan, withholding was cleverly called “pay as you go.”

From The Wall Street Journal ● Jun. 9, 2026

Then someone could file for an extension to file a return in mid-October, and then they can set up an installment plan to pay the taxes they owe.

From MarketWatch ● Apr. 6, 2026

To avoid her unpaid rent going to collections, she signed an installment plan, agreeing to pay $495 per month.

From Seattle Times ● Oct. 18, 2023

Keep in mind this deal requires an installment plan, and the discount is given as bill credits.

From The Verge ● Aug. 10, 2022

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