installment plan
noun/ɪnˈstɔːlmənt plæn/
/ɪnˈstɔːlmənt plæn/
(North American English) (British English hire purchase)
[uncountable, countable]- a method of buying an article by making regular payments for it over several months or years. The article only belongs to the person who is buying it when all the payments have been made. compare credit
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installment plan