Dictionary

down payment

noun

: a first payment that you make when you buy something with an agreement to pay the rest later

Full Definition of DOWN PAYMENT

:  a part of the full price paid at the time of purchase or delivery with the balance to be paid later; broadly :  the first step in a process

Examples of DOWN PAYMENT

  1. She made a 10 percent down payment on the car.
  2. We put a down payment on the house.

First Known Use of DOWN PAYMENT

1926

Rhymes with DOWN PAYMENT

DOWN PAYMENT Defined for Kids

down payment

noun

Definition of DOWN PAYMENT for Kids

:  a part of a price paid when something is bought with an agreement to pay the rest later

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