From Longman Dictionary of Contemporary Englishinstallment planinˈstallment ˌplan noun [singular, uncountable] American English BBTa system of paying for goods by a series of small regular payments SYN hire purchase British English
Examples from the Corpus
installment plan• But nobody was thinking about the installment plan Friday when they lowered the tiny casket into the ground.• But modern publishers knew they needed a very formidable, sure-selling author to make the installment plan succeed.• The Warriors bought it on the installment plan.From Longman Business Dictionaryinstallment planinˈstallment ˌplan noun [countable] American EnglishFINANCE a way of buying something by making small, regular payments over an agreed period of timeSYNhire purchase BrEShares can be purchased on the two-part installment plan. 