noun
a system for paying for goods or services in regular amounts over a period of time, rather than paying the full amount at once
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The customer opted for an installment plan to pay for the new furniture over several months.
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I'm thinking of signing up for the installment plan to spread out the cost of the laptop.
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I'm gonna go with the installment plan so I don't have to drop all the cash at once.
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Using an installment plan is like breaking down a big task into smaller, more manageable steps.