an initial amount paid at the time of purchase, in installment buying, time sales, etc.
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.
Origin of down payment
First recorded in 1925–30
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
Examples from the Web for downpayment
Contemporary Examples of downpayment
How small a downpayment would they like buyers to qualify with?
the deposit paid on an item purchased on hire-purchase, mortgage, etc
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
A payment in part made at the time of purchase of a good, with the promise to make full payment later.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.