| 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. |
| down payment n. A partial payment made at the time of purchase, with the balance to be paid later. |
A payment in part made at the time of purchase of a good, with the promise to make full payment later.