What is another word for layaway plan?
Pronunciation: [lˈe͡ɪəwˌe͡ɪ plˈan] (IPA) 
A layaway plan is a type of payment plan in which a customer can purchase an item and pay for it over time in installments. However, there are several synonyms for this term, including "deferred payment plan," "installment plan," or simply "payment plan." A deferred payment plan is a method in which payment is delayed until a later date, typically with interest. An installment plan is a type of credit in which a large purchase is divided into smaller amounts that can be paid over time. A payment plan is a more general term that refers to any type of arrangement in which payments are made over a period of time to pay off a debt or bill.
