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It means that you pay a lump sump and then monthly instalments for a specific time period and then you pay the remaining balance to own the car

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14y ago

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Related Questions

What is deferred payment price?

A deferred payment price may be different from a price of cash and carry. To pay later is to defer and is usually more expensive.


When was Payment Deferred created?

Payment Deferred was created in 1926.


What is the duration of Payment Deferred film?

The duration of Payment Deferred - film - is -4860.0 seconds.


Deferred payment and interest?

Is deferred interest deductable


What does a deferred payment mean on a truck payment?

A deferred payments is to make the payment at a later date. From time to time a creditor may ask if you would like to skip a payment. They would charge you about $50 and move the payment or defer it to the end of the loan. This is not to your advantage. It costs you up front and costs you interest.


How do you record a deferred payment?

To record a deferred payment, first, create a liability account to recognize the obligation to pay in the future. When the payment is initially recorded, you would debit the appropriate expense account and credit the deferred payment liability account. When the payment is made, you would debit the deferred payment liability account and credit cash or accounts payable. This ensures that the expense is recognized in the correct period while reflecting the liability until payment is completed.


What are the differences between hire purchase transaction and deferred payment?

give three similarities and three difference between hire purchases and deferred payment


What is a Arrangement for deferred payment for goods and services?

credit


What are the release dates for Payment Deferred - 1932?

Payment Deferred - 1932 was released on: USA: 7 November 1932 USA: 2 August 1939 (re-release)


What is the opposite of advance payment?

The opposite of advance payment is a deferred payment. In a deferred payment arrangement, the payment is made after the goods or services have been delivered or rendered, rather than upfront. This can allow buyers to receive the product before committing to payment, often used in credit or installment agreements.


When are Deferred payment accepted?

In economics, one of the four functions of money is to serve as a "standard of deferred payment". It means that a contract or agreement may specify (or imply) that the repayment of a debt be made..


What are the release dates for Police Story - 1973 Payment Deferred 4-1?

Police Story - 1973 Payment Deferred 4-1 was released on: USA: 21 September 1976