What is another word for installment payments?
Pronunciation: [ɪnstˈɔːlmənt pˈe͡ɪmənts] (IPA) 
Installment payments refer to a method of paying for a purchase in smaller, more manageable amounts over time. However, there are several synonyms that may be used to describe this payment method. Alternatives include "deferred payments," which implies that the payment of the full amount of the purchase is being delayed, "payment plan," which refers to an agreed-upon schedule of payments, and "layaway," which describes a situation where the purchase remains in the custody of the seller until the customer has paid in full. Despite the different terms used, installment payments remain an effective way for customers to pay for their purchases without having to shoulder a large financial burden all at once.
