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

My partner’s parents offered to help with the down payment, but they reacted strongly to the property.

From MarketWatch • Apr. 3, 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

This might be a program where a renter stays for an agreed number of years in return for a lump sum at the end of the tenancy that can be put toward a down payment.

From The Wall Street Journal • Mar. 23, 2026

You don’t get a whole lot for a hundred-dollar down payment, I guess.

From "Okay for Now" by Gary D. Schmidt

Related Words

• deposit