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

But Costanzo used the money toward a down payment on a condominium purchase, the indictment says. —Jay Weaver, Miami Herald, 13 Oct. 2025

For instance, Andrews Federal Credit Union offers eligible first-time homebuyers up to $20,000 toward their down payment or closing costs. —Andreina Rodriguez, CNBC, 10 Oct. 2025

With rent prices still high across much of the country, saving for a down payment can feel nearly impossible. —Preston Fore, Fortune, 9 Oct. 2025

The formula for determining the down payments that GM Financial paid to dealers on those EVs was 5% of the maximum price for each car. —Mike Colias, USA Today, 9 Oct. 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