down payment

American  

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.

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down payment British  

noun

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

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down payment Cultural  

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

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Etymology

Origin of down payment

First recorded in 1925–30

Example Sentences

In three years, that could provide $216,000 — a full down payment, without touching estate-tax exemptions.

From MarketWatch • Mar. 27, 2026

That down payment means equity instead of rent.

From MarketWatch • Mar. 27, 2026

Paying interest on a second loan instead of making a cash down payment can increase the overall cost of homeownership significantly.

From The Wall Street Journal • Mar. 26, 2026

Once the crypto assets have been pledged for the down payment, the homeowner can’t trade them.

From The Wall Street Journal • Mar. 26, 2026

She had been startled, when she first saw the listing in the real estate section of the paper, to realize she could afford the down payment in cash.

From "Americanah" by Chimamanda Ngozi Adichie

Related Words

• deposit