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

By tapping into the business of financing climate infrastructure in the Global South early, the country is placing a down payment for capturing a much bigger opportunity. —Justin Worland, Time, 5 Aug. 2025

Too many potential homeowners only plan for their down payment and mortgage payment. —Sara B. Hansen, Denver Post, 1 Aug. 2025

In 2022, Luisa, then 27, had saved up enough to make a down payment on a condo in Morningside, valued at $353,000. —Max Klaver, Miami Herald, 30 July 2025

Smith provided a $20 down payment, got the bike and was supposed to pay another $30 the following day. —Emerson Clarridge, Fort Worth Star-Telegram, 29 July 2025

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