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

Her parents saved for three years to get their down payment together.

From MarketWatch

The new offering from Better Home & Finance and Coinbase allows home buyers to pledge bitcoin and other cryptocurrencies when making a down payment.

From The Wall Street Journal

Instead of making a cash down payment, the buyer gets a separate loan, backed by either bitcoin or USDC, a popular stablecoin.

From The Wall Street Journal

This could go a significant way in helping her to rent an apartment and even save for a down payment.

From MarketWatch

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

Related Words

• deposit