installment plan

noun

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

installment plan

noun

1. 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 Also called (in Britain and certain other countries)hire-purchase

Word History and Origins

Origin of installment plan¹

First recorded in 1875–80

Example Sentences

Klarna, QuadPay, Affirm, Sezzle—these are just a few of the most familiar banking providers financing installment plans for e-commerce merchants.

From Fortune

Very few letters will sell articles costing as much as fifty dollars unless perhaps the payments are on the installment plan.

From Project Gutenberg

The installment plan is important to consider, since it is so common for people of small means.

From Project Gutenberg

You may say that the installment plan gives the use of the encyclopdia at once, and this is true.

From Project Gutenberg

Almost all the books in the Williams household had been bought of agents and paid for on the installment plan.

From Project Gutenberg

With intellectual taste, he can fill his library with just the books he desires "on the installment plan."

From Project Gutenberg