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  2. In the US, these phrases have different meanings. Pay out would not be part of a purchace on installment; pay out is what a company does to distribute funds. Payment - the individual amounts paid toward the total owed. Payoff - the final payment, or the amount that if paid now would be the full amount owed.
    english.stackexchange.com/questions/489287/pay …
    Pay off means to pay the full amount of a debt or to receive a benefit as a result of hard work or effort, while pay out means to give someone money, especially as compensation or as a result of a bet.
    redkiwiapp.com/en/english-guide/phrasal-verb-pair…
     
  3. People also ask
    What is a payoff amount?Your payoff amount is how much you will actually have to pay to satisfy the terms of your mortgage loan and completely pay off your debt. Your payoff amount is different from your current balance. Your current balance might not reflect how much you actually have to pay to completely satisfy the loan.
    What is the difference between pay out and pay off?Saying pay out, you emphasize how massive the loan is, and saying pay off, you just talk about the fact of paying the money you need to pay. Pay out and pay off can be used as intransitive verbs (with no object): It’ll be a few years before our investments start paying out. (1) All those weeks of studying will pay off when you take the exam.
    What is the difference between payment and payoff?Payment - the individual amounts paid toward the total owed. Payoff - the final payment, or the amount that if paid now would be the full amount owed. (Payoff can be one word as a noun in this jargon, but as a verb it is “pay off”. “What is my payoff amount? I want to pay off my loan and be done with it.” Pay out is unrelated.
    What is the difference between a payoff quote and a balance?The balance of your loan is what you owe as of the statement date, but the payoff quote is the amount it will take to pay off your loan balance, as well as any unpaid interest up until the intended payoff date. In order to get your loan's payoff figure, you'll need to call your lender.
     
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