down payment

down payment

noun

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

co-payment, embayment, prepayment, stop payment