down payment

American  

Or down-payment

noun

down payments plural

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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Other Word Forms

Noun Inflected Forms

• down payments
  plural

Etymology

Origin of down payment

First recorded in 1925–30

Example Sentences

See Examples For:

down payment

Recently, his mom asked if he could pitch in for a down payment on a new family car, so he’s set aside some of his savings for that too.

From The Wall Street Journal ● Jul. 11, 2026

Proposition 37 would create a down payment assistance program to help middle-class Californians buy a new home.

From Los Angeles Times ● Jul. 6, 2026

Once a child turns 18, the money can also be used penalty-free — but not tax-free — to pay for education, to make a down payment on a first home or for emergency savings.

From MarketWatch ● Jun. 30, 2026

Borrowers who make a 20% down payment, often the minimum amount to avoid having to pay for private mortgage insurance, might see rates drop between 0.15 percentage point and 0.4 percentage point.

From Barron's ● Jun. 29, 2026

“Sir, if you have a down payment of three thou, I can make you owner of something a lot better than a pair of rabbits. What about a goat?”

From "Do Androids Dream of Electric Sheep?" by Philip K. Dick

Related Words

• deposit