Updated April 14, 2023
A retail store payment plan agreement applies to any product or goods sold to a customer who is allowed to pay back the total cost in increments. The store will usually offer low or zero interest in the first 6-24 months to encourage customers to buy as much as possible. Therefore, the store makes money on the sale of the item plus any late fees and interest if the customer extends the payment period.
Popular Products on Payment Plans
- Appliances
- Clothing
- Electronics
- Furniture
- Jewelry