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WordNet-Online
Definitions from WordNet
Noun installment buying has 1 sense
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Definitions from the WebTerm: Installment BuyingDescriptionInstallment buying refers to a purchasing method where an item is acquired by making regular, fixed payments over a specific period of time. Instead of paying the full purchase price upfront, the buyer can spread the total cost into smaller installments. Sense 1: Popular UsageIn popular terms, installment buying commonly refers to purchasing expensive items, such as appliances, furniture, or electronics, using installment plans offered by retailers or financial institutions. This method allows individuals to own the desired item immediately while paying it off over a longer duration. Example Sentence: Julie decided to buy a new laptop using installment buying so she could easily manage her budget without depleting her savings all at once. Sense 2: Local UsageIn some local communities, installment buying may also refer to informal arrangements where a seller allows a customer to make partial payments for goods or services without involving a formal financial institution. The terms and conditions are typically negotiated directly between the buyer and the seller. Example Sentence: In the small town, many farmers rely on installment buying for acquiring necessary farming equipment, executing the transactions based on mutual trust. Related Products on Amazon | ||||
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