What are staggered payments?
submitted by eM-EM

Arnold

Payment on terms extending over a period of time, and they may be at different intervals and amounts.

J.J.

It's an alternative to paying all at once. Usually the seller will set terms of payment, i.e. you have 12 months to pay before we charge a penalty fee, and you need to pay a minimum of $350 each month.

This gives sellers flexibility to work with clients who may not be prepared to pay the entire purchase price. In those cases, the buyer wouldn't be able to buy with a single cash payment, and therefore wouldn't have been able to do business with the company without staggered payments.

Alryn Macalisang

Payment of different amounts in different intervals over a specified period.

Robert DeMantis

Making staggered payments allows a customer to purchase a high-priced item without having to lay out all the cash at once. Just like buying a home or a car, there are some purchases you just want to break up over time.

By staggering these payments, you make big ticket items more accessible.