down payment

or down-payment

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.

down payment

noun

1. the deposit paid on an item purchased on hire-purchase, mortgage, etc

down payment

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

Word History and Origins

Origin of down payment¹

First recorded in 1925–30

Example Sentences

Smith-Griffin used some of the fraudulently obtained funds to put a down payment on a house in North Carolina and pay for her wedding, prosecutors said.

From Los Angeles Times

She wants to give down payment assistance to homebuyers and tax deductions to new businesses, but the impacts of these may be limited, experts said.

From Salon

Critics have raised doubts about the details, including the uncertain effects of her plan to subsidize down payments for first-time homebuyers, but she has at least made those issues high priorities.

From Los Angeles Times

It can take the average person several years to save for a down payment — if they can afford it at all.

From Salon

Harris could then add her plans on small business loans, down payment assistance for first-time buyers and the newborn tax credit.

From Salon

Related Words

• deposit