"cheapo " seems to be the informal term for "cheap". Why it that? Is there any explanation for that?
How it comes that "cheap" becomes "cheapo&quo
It is based on the fact that many Spanish adjectives look like English ones with "o" added on. "El cheapo" is also used.
There aren't many such words in common use. "Pinko" comes to mind, but I'm not entirely sure of its origin. It is common for English speakers to simply add "o" to any English noun or adjective when imitating Spanish, though.
Another one is the expression "No problemo". It turns out that it's close to a real Spanish expression with the same meaning ("no hay problema"), but it may well be a coincidence.
Another might be "zippo", alteration of "zip", both of which are slang for "zero" or "nothing".
By the way, there can be a difference in connotation between "cheap" and "cheapo". "Cheap" always implies low price, but it sometimes -- but not always -- also implies low quality. However, "cheapo" almost always implies low quality, and it may imply lower quality than merely "cheap" would.
- Kef
Another might be "zippo", alteration of "zip", both of which are slang for "zero" or "nothing".
By the way, there can be a difference in connotation between "cheap" and "cheapo". "Cheap" always implies low price, but it sometimes -- but not always -- also implies low quality. However, "cheapo" almost always implies low quality, and it may imply lower quality than merely "cheap" would.
- Kef
A "cheapo" is often a derogatory expression for an individual who is very cheap (aka tightwad). It kind of rhymes with Gringo... The poster who mentioned Spanish might be onto something.
"cheapo" refers to something that is inexpensive and of inferior quality. I've never heard it applied to an individual -- that would be a "cheapskate".
Cheapo is synominous with cheapskate where I grew up in New York and I now live in the Southwest US and it's used here as well.
I haven't heard it used that way before, but I'd understand it if I heard somebody use it that way.
Changing the end of a name/noun is common in Australia, like my nickname (John becomes Jonno). Other examples in Australia include: Salvation Army --> the Salvo's, bottle shop --> bottle-o and service station --> servo.