installment plan
4
3.2
- noun
- /ɪnˈstɔlmənt plæn/
- US
- If you enroll in an installment plan, you will pay a fixed amount each month until the balance is cleared.
- a monthly installment plan
- set up an installment plan
Examples
-
I'm payin' it down on the installment plan.
-
Financing alternatives include credit from outside finance companies that partner with the surgeon or installment plans arranged by the in-house finance program.
Blog text (3) -
I was thinking maybe we could set up an installment plan.
-
Let's work out an installment plan.
-
If you must know, I'm paying for it on the installment plan.
-
We borrow money, and for years... ...we pay out on the installment plan.
-
Don't worry, we'll work out something, like an instalment plan.
-
The reality of what happened here is that Perelman agreed to buy the Koons sculpture on an installment plan.
Blog text (27) -
You can buy the new sofa with an installment plan that spreads the cost over several months.
-
Many retailers offer an installment plan to help customers afford big purchases.
Synonyms
1
3.9
An agreed plan showing when and how much to pay back a loan
1
5.3
A way to buy something by paying small amounts regularly
1
3.1
A way to buy something by paying small amounts over time
To pay for something by small regular payments over time instead of paying all at once
Antonyms
- Specialized
17
3.7
A single large payment that you get all at once instead of in smaller parts
How Many Payments
- Archaic
- US
4
3.2
Surface Forms
Morphology
The meaning is directly compositional: 'installment' denotes a partial/scheduled payment and 'plan' denotes an arrangement, so 'installment plan' straightforwardly means an arrangement to pay by installments. This is a literal, cross-linguistically common construction (e.g. 'plan de pagos', 'Ratenplan'), so a B1 learner who knows both constituents will readily infer the meaning.
Etymology
Installment plan comes from the simple idea of paying for something in small parts. Imagine leaving a small installment, a part of the price, each week under an agreed plan, so the phrase means 'a way to pay by several smaller payments over time'.