down payment

Or down-payment

noun

1. an initial amount paid at the time of purchase, in installment buying, time sales, etc.

2. any initial or partial payment, gift, favor, or recompense, as to reduce one's indebtedness or express one's obligation or gratitude.

   This gift is just a down payment for all the favors I owe you.

down payment

noun

1. the deposit paid on an item purchased on hire-purchase, mortgage, etc

down payment

1. A payment in part made at the time of purchase of a good, with the promise to make full payment later.

Word History and Origins

Origin of down payment¹

First recorded in 1925–30

Example Sentences

Her hope is that her investments will help her pay some of her tuition bills and build up a down payment for an apartment.

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Recouping more money when you sell a vehicle can mean a bigger down payment and lower monthly payments on your next one.

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Robby Stein, vice president of product for Google Search, previewed for reporters a query in AI Mode asking to compare the cost of home loans with different interest rates and down payments.

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It is separate from any checking-account balances for routine expenses, and separate from any savings earmarked for other uses, such as vacations, gifts or a down payment on a house.

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Department of Agriculture, which requires zero down payment?

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Related Words

• deposit