down payment

noun

: 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.

Recent Examples on the Web

However, Kelley Blue Book recommends considering your overall financial situation and cautions against using essential savings, such as money in your emergency fund, to make a larger down payment. — Jasmin Suknanan, CNBC, 4 Oct. 2026

Buying a home usually requires a big down payment and expensive closing costs. — The Editorial Board, Chicago Tribune, 2 Oct. 2026

Others can involve providing financial stability for a child who has pursued a meaningful and fulfilling career that does not pay very much, or assisting younger family members with a down payment in a tight housing market. — Jeff John Roberts, Fortune, 1 Oct. 2026

The proposition creates a down payment loan program, totaling up to $25 billion, for middle-income families looking to buy a new home in California. — Audrey McGlinchy, Los Angeles Times, 1 Oct. 2026

Word History

First Known Use

1854, in the meaning defined above

Rhymes for down payment

• copayment
• embayment
• nonpayment
• prepayment
• repayment
• claimant
• overpayment
• underpayment

Kids Definition

down payment

noun

: a part of the full price paid at the time of purchase or delivery with the remainder to be paid later