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down payment

noun

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

  1. :  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.



1926

First Known Use of down payment

1926

Rhymes with down payment


DOWN PAYMENT Defined for Kids

down payment

noun

Definition of down payment

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




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