Down payments

Every payment plan takes its first installment, the down payment, at checkout. The rest is charged later on the plan's schedule. There is no option for nothing to pay today.

Set the down payment in the Down payment (first installment) section of the plan.

Auto

The down payment is an equal share of the price: the price divided by the number of installments the customer chose. On a $600 product paid in 4 installments, the customer pays $150 at checkout and $150 three more times.

Auto is the right choice for most stores because every payment is the same size.

Percentage

The down payment is a percentage of the price, for example 25%.

The percentage applies to the plan with the most installments. If a customer chooses fewer installments, their down payment is an equal share of the price, as with Auto. Setting the percentage to 0 is treated as Auto.

Fixed

The down payment is a set amount in your store's currency, for example $100, multiplied by the quantity ordered.

The installments after the down payment

Whatever is still owed after the down payment is split evenly across the remaining installments. Tax and shipping are spread across the installments in the same way. The last installment collects whatever is left on the order, so rounding never leaves a few cents unpaid.

The price is locked in when the order is placed. Later price changes or discounts on the product don't change what an existing customer pays.