installment plan

noun

Definition of installment plan

: a system of paying for goods by installments

Examples of installment plan in a Sentence

We used an installment plan to buy the furniture. We bought it on the installment plan.

Recent Examples on the Web

Verirzon is offering a few ways to make that price sting a bit less, like a 24-month installment plan that just divides the cost into $27.08 per month chunks, or a two-year service contract that knocks the price down to $499.99. Chaim Gartenberg, The Verge, "Verizon launches its first 5G hotspot for $650," 18 July 2019 Best Buy's offer is for new Verizon activations only—not those who just buy the phone unlocked—and requires a monthly installment plan. Ars Staff, Ars Technica, "Dealmaster: Buy a Google Pixel 3, get $800 off a second in credits," 11 Oct. 2018 Unlike loans and other types of installment plans, layaway does not involve interest. Nadra Nittle, Vox, "Tyler Perry paid off 1,500 Walmart layaway accounts, but the service can be risky for low-income shoppers," 12 Dec. 2018 His father, a tailor, bought him a Royal portable typewriter on an installment plan, putting $2 down and making payments of 25 cents a week. New York Times, "Art Shay, Whose Camera Captured the Famous and the Everyday, Dies at 96," 10 May 2018 Now for the caveats. This deal doesn't include mobile hotspot for tethering, free Hulu or the ability to lease phones on monthly installment plans from Sprint. Eli Blumenthal, USA TODAY, "Sprint's new $15 per month unlimited offer hopes to lure in switchers," 7 June 2018 The company will sell the Galaxy S9 for $719.99 outright, or $30 a month over the course of a 24-month installment plan. Jeff Dunn, Ars Technica, "Dealmaster: Breaking down the Galaxy S9’s pre-order situation," 2 Mar. 2018 Often, for instance, people turn to electronics stores that offer products on credit, signing up to buy televisions or washing machines on installment plans, then immediately selling those appliances to get cash. Loveday Morris, Washington Post, "Behind bloody Gaza clashes, economic misery and piles of debt," 23 Apr. 2018 At launch, the Galaxy S9 will run $30 per month for 24 months on T-Mobile's installment plan. Eli Blumenthal, USA TODAY, "Samsung Galaxy S9, S9+ price: how to get the best deal," 25 Feb. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'installment plan.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of installment plan

1876, in the meaning defined above

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Last Updated

12 Sep 2019

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Time Traveler for installment plan

The first known use of installment plan was in 1876

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More Definitions for installment plan

installment plan

noun

English Language Learners Definition of installment plan

US : a way of paying for something by making a series of small payments over a long time

More from Merriam-Webster on installment plan

Thesaurus: All synonyms and antonyms for installment plan

Britannica.com: Encyclopedia article about installment plan

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