Meaning of the word overpay in English

What does overpay mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

overpay

US /ˌoʊ.vɚˈpeɪ/
UK /ˌəʊ.vəˈpeɪ/

Verb

pay too much for something

Example:
I think we overpaid for this car.
Don't overpay for a brand name when a generic product is just as good.

Noun

an act of paying too much for something

Example:
The company made an overpay on the last invoice.
We need to avoid any overpay in our budget.