deferred payment

Related Terms
A loan arrangement in which the borrower is allowed to start making payments at some specified time in the future. Deferred payment arrangements are often used in retail settings where a person buys and receives an item with a commitment to begin making payments at a future date.

Use 'deferred payment' in a Sentence

I didn't have enough money to purchase a new computer but was able to get one anyways because the store offers 6 months of deferred payments.
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The deferred payment option was mandatory as paying off the loan too soon would not be allowed so we did not make any payments this year.
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You may accept a deferred payment from someone but only if you have complete trust that they will pay eventually.
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