Magento Partial Payment
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Magento Partial payment is a payment solution that allows a buyer to pay the amount for their order in more than one installment. It was first introduced in 2011 and it is easily installed on any eCommerce store created with Magento. It comes as a simple extension package and within affordable price range. Partial payment can be enabled for single or multiple products. Administrator of the store can set the booking amount, the duration between two consecutive installments as well as surcharge amount that can be added on installments.

Read the full list of features of this extension:

Feature list for Administrators:

It can be set as an optional facility by the administrator
Different invoice can be generated for each installment of the payment
It can be used with single product, multiple product, all the products or out of stock products
Admin can set minimum order amount necessary to use this facility
Admin can set a surcharge amount to add to the installments
Admin can set to offer discounts on order amount or first installment amount when a buyer orders out of stock product
Auto Capture the next installments (subject to support of payment gateways)
Admin can set specific customers or customer groups to have this partial payment facility
Admin can set credit limit for customers for each due payment
Partial payment extension enabling and processing orders can be set from backend by admin
Admin can set the duration of time in which the customer has to pay the remaining amount of his/her order

Feature list for Buyers:

Buyer can pay for their order in multiple installments
They can select the number of installments in which they want to pay the full amount of their order
Buyers can get separate invoice for each of their installments
Buyers will get a discount if they purchase out of stock products
In special circumstances a buyer can request the store admin to process his/her order from backend

All these features are available in various upgrades of the module available from the store. Store owners can select the extension version which most suits their needs.