what is down payment and monthly payment?

Question

i want to get braces and the lady told me that they do
the down and monthly payment.
so how does that work?

let just say it cost $5K - $8K for braces

Answer 1

Down payment is the portion you have to give them at the time you get your braces. The monthly payment is the portion of the bill you have to pay them each month until the bill is paid off. Down and monthly payments will vary depending on the length in months of your repayment schedule and the amount the dentist requires up front.

Answer 2

Down payment would be an intial payment amount to start the work that needs to be done- then the remaining money balance will be split up into monthly payments until it is paid in full.

example: Total cost is $5000
down payment $1000
then $4000 will be divided into monthly payments
of 12 months or 24 months or 36 months until fully paid.

Answer 3

In getting braces they will ask for a down payment, or a portion of the total cost up front before they will do the work. Once this is established, then they will work out payments that you can afford to pay off the balance while you are getting the work done. This ensures the dentist will get paid. I'm assuming you have no dental insurance?

Answer 4

You make an initial payment, which is usually a percentage of the total, upfront when you make your purchase. Then every month you pay a portion of the remaining balance until the whole thing is paid off.

Just to pull some random numbers out of the air, let's say your down payment is $1000, so you would pay that when you got the braces. Then every month you might pay $100 toward the balance (probably with interest accruing) until they were all paid off.

Answer 5

Well I'm not sure but i think down payment is when you pay straight up. Monthly payment is when they spread out the cost over maybe a year so 12 months. That would be about 650$ a month for 12 months.

Answer 6

A down payment would be the money that you pay upfront, possibly before you get the braces. The monthly payment would be a set price that you pay monthly until you pay off the braces. Hope this helped!

Answer 7

Down payment is what you pay to show that you are serious--it's security for them that if you pull out of the deal, they still have some money for their troubles.

Monthly payments are to cover the rest of the cost.

So if braces cost $10K and the down payment is $2000, you would have $8000 to pay in monthly installments.

Answer 8

The down payment is made before services are rendered as sort of a good-faith gesture on the credit they are about to give you. Monthly payments are payments made on the remaining balance until the balance is completely paid off.

Answer 9

you bill probably need to put 500 down payment. Down payment is only a one time payment which is at the beginning. Monthly payments follow.

Answer 10

a down payment means you pay before getting the item, like maybe 10% downpayment and monthly payments are the small payments you make afterwards until you complete the total price