Pay Paid Loan Sth Credit Meaning Back Installments

Meaning: If you pay off a loan, you pay it back in installments over a period of time.

• pay sth off They took out a loan to buy their house and they'll pay it off over the next twenty-five years.
  
  
• pay off sth Have you paid off your car loan yet, or do you still owe some money to the bank?
  
  
• be paid off If we keep giving the bank a thousand dollars a month, our credit cards will be paid off by the end of next year.
  
  

Nouns often used as objects with pay off (1): loan, mortgage, debt, house, car, credit card