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A Deferred Down Payment is down payment money that the customer has promised give to you at a later date.

➢Deferred down payments are sometimes known as "pick-up notes".

➢This money is considered to be part of the amount down, as its name implies.

➢It is not calculated to be part of any payments on a financed deal, nor is it counted as part of the cash due on delivery (C.O.D.).

 

There are two steps to using deferred down payments in a deal.  Click on the links below to learn more.

➢Schedule the deferred payment(s) in the deal

➢Accept the deferred payment(s) from the customer

Click here to find out how to manage outstanding deferred down payments and keep track of receipts.