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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.
Also, down-payment.
Origin
1925-1930
1925-30
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples for down payment
  • Bringing in partners is a down payment on satisfied new faculty.
  • Six years should be the max length of a car loan and there needs to be increasing down payment requirements for longer loans.
  • It swiftly opened a local office, made a down payment and prepared to take possession of the land.
  • Sometimes a subprime loan requires a lower down payment than usual, meaning borrowers will build little equity in the house.
  • Should you decide to go ahead with your planning, it is here that you must put a down payment to secure your date.
  • They secure a fixed-rate mortgage at a reasonable rate, make a down payment, and make their mortgage payments each month.
  • But the purchase of instant fame requires a down payment.
  • More often buyers will make a down payment and then pay some or all of the remainder in installments to either you or a lender.
  • She did not even have to come up with a down payment.
  • He qualified for government insurance, which meant he needed only a small down payment.
British Dictionary definitions for down payment

down payment

noun
1.
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
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down payment in Culture

down payment definition


A payment in part made at the time of purchase of a good, with the promise to make full payment later.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Difficulty index for down payment

Few English speakers likely know this word

Word Value for down

8
9
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