layaway plan

American  

noun

1. a method of purchasing by which the purchaser reserves an article with a down payment and claims it only after paying the full balance.

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Etymology

Origin of layaway plan

First recorded in 1970–75

Example Sentences

The festival, which was aptly announced on Valentine’s Day, didn’t tout much else beyond the lineup and the layaway plan with a $19.99 down payment.

From Los Angeles Times

On Friday, prosecutor Georgia Cappleman tried poking holes in his story, saying nobody put a gun to Adelman’s head when he gave Magbanua $138,000 in cash and arranged “some kind of layaway plan” for the rest of the payment.

From Seattle Times

When Taqwanna Clark went to buy a video camera at Fry’s Electronics in Houston, she asked if they had a layaway plan.

From New York Times

“You can buy a gun on a layaway plan,” Abu Sabir said.

From Washington Post

The idea wasn’t exactly new—it’s not unlike paying for your TV with a layaway plan, if you remember those.

From Slate