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What is another word for installment plan?

Pronunciation: [ɪnstˈɔːlmənt plˈan] (IPA)

An installment plan, also known as a payment scheme, payment plan, or credit plan, refers to a method of paying off a debt or purchase whereby the amount is split into smaller, regular payments over a certain period. Other synonyms for installment plan include deferred payment, hire-purchase, layaway, and easy payment scheme. Deferred payment is when payments are postponed to a later date. Hire-purchase is a type of installment plan that allows the buyer to pay for a product in installments until they own it outright. Layaway is a payment plan where the product is reserved until it is paid off. Easy payment schemes are installment plans that have more lenient payment terms and conditions.
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Synonyms for Installment plan:

What are the hypernyms for Installment plan?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.

Famous quotes with Installment plan

  • No one knows his true character until he has run out of gas, purchased something on the installment plan and raised an adolescent.
    Marcelene Cox
  • I have said, with respect to authorization bills, that I do not want the Congress or the country to commit fiscal suicide on the installment plan.
    Everett Dirksen
  • A nation or civilization that continues to produce soft-minded men purchases its own spiritual death on the installment plan.
    Martin Luther King, Jr.
  • Banks introduced the installment plan. The disappearance of cash and the coming of the credit card changed the shape of life in the United States.
    Jerzy Kosinski
  • By working hard we could make an average of about $5 a week. We would have made more but had to provide our own machines, which cost us $45, we paying for them on the installment plan. We paid $5 down and $1 a month after that.
    Rose Schneiderman

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