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 hope is that her investments will help her pay some of her tuition bills and build up a down payment for an apartment.

From The Wall Street Journal

Recouping more money when you sell a vehicle can mean a bigger down payment and lower monthly payments on your next one.

From MarketWatch

So the $30,000 can mean a college education, even a down payment on a home.

From Seattle Times

The typical route to owning a home is to rent first and eventually save enough for a down payment.

From Los Angeles Times

In California, supporters of reparations have suggested a piecemeal approach, such as giving eligible residents down payments or credits until the funding becomes available.

From Washington Times

Related Words

• deposit