Meaning & Definition of word "Prepay"
to
Prepay
/priːˈpeɪ/
verb:
- 1. To pay for a service or product in advance.
- Example: I decided to prepay for my hotel room to secure the best rate.
- 2. To make a payment on a loan or credit account before it is due.
- Example: She chose to prepay a portion of her mortgage to save on interest.
- 3. To pay a subscription fee or similar charge before the billing cycle begins.
- Example: Subscribers can prepay for the entire year and receive a discount.
Etymology
From 'pre-' meaning before + 'pay'.
Common Phrases and Expressions
prepay options:
Choices available for paying in advance.
prepay plan:
A structured plan allowing advance payments for services.
Related Words
prepayment:
The act of paying in advance for goods or services.
installment:
A portion of a total due amount that is paid at a specific time.
Slang Meanings of prepay
Meaning: Pay to play
Example Sentence: You have to prepay for your tickets; it's a pay to play situation.
Meaning: Upfront payment
Example Sentence: This is an upfront payment deal; you need to prepay to secure your spot.