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Jingtian Posted 12 years ago
Vocabulary

Pay a certain amount each month vs.pay all when purchasing

If you want to purchase something, and you pay it at once, it is called (). If you pay a certain amount each month, it is called (hire purchase?).
  

Top answer

If you buy sth by paying the whole amount at once, you have paid it in cash. But if you buying something by getting a loan from a bank, you have financed. Ex.

— Hrsanei

  • If you buy sth by paying the whole amount at once, you have paid it in cash.
  • But if you buying something by getting a loan from a bank, you have financed.
  • Ex.
  • I couldn't afford to buy my car in cash, so I financed it.
  • And if you buy a merchandise which has the option of paying a certain amount each month, you have bought the item in installment.
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3 Answers
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If you buy sth by paying the whole amount at once, you have paid it in cash.
But if you buying something by getting a loan from a bank, you have financed. Ex. I couldn't afford to buy my car in cash, so I financed it.
And if you buy a merchandise which has the option of paying a certain amount each month, you have bought the item in installment.
Hamid
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2. installment payments
1. payment in full
I'm not sure this is what you want, but it's what I have to offer.
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If you want to purchase something, and you pay it at once, it is called payment in full.

If you pay a certain amount each month (principal + interest), it is called an installment plan.
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