Simple Definition of down payment
: 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 in a sentence
She made a 10 percent down payment on the car.
We put a down payment on the house.
First Known Use of down payment
DOWN PAYMENT Defined for Kids
Definition of down payment for Students
: a part of a price paid when something is bought with an agreement to pay the rest later
Seen and Heard
What made you want to look up down payment? Please tell us where you read or heard it (including the quote, if possible).