down payment

noun

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.

Recent Examples on the Web

Democrats and Republicans have already shown their cards Trump wants a down payment on his border wall, and that appears to be as far as his game plan goes. Tara Golshan, Vox, "This could be a really long government shutdown," 21 Dec. 2018 Last week, Cooper proposed a $1.5 billion recovery plan and asked for $750 million of that as a down payment, with a focus on housing, farmers and schools. Emery P. Dalesio, The Seattle Times, "North Carolina lawmakers mull Hurricane Florence spending," 15 Oct. 2018 But after Wilson seemed to have secured an apartment by making an initial down payment, the rental agency reportedly recognized him and called the authorities. Cyrus Farivar, Ars Technica, "Cody Wilson reportedly trying to rent an apartment in Taiwan, per local media," 20 Sep. 2018 This goes toward emergency savings, retirement, home down payment fund, etc. Samantha Leach, Glamour, "The Only Money Hacks You Need to Save Big in 2019," 14 Jan. 2019 The first step, of course, is pulling together a down payment. Sara Rodrigues, House Beautiful, "Should Your Friends Crowdfund The Down Payment On Your Home? This Start-Up Thinks So," 18 Dec. 2018 For prospective homebuyer, down payments are often a source of stress—and confusion. Jeff Andrews, Curbed, "Need money for a down payment on a house? There’s an app for that.," 17 Dec. 2018 Under the terms of the understanding, purchases and tariff reductions aren’t required until a deal is struck, but both sides believe early purchases would serve as a kind of down payment and give a boost to negotiations. Bob Davis, WSJ, "U.S. Maintains Hard Line as Details Emerge in Trade Truce With China," 9 Dec. 2018 Buyers providing down payments of less than 20 percent of the purchase price may also need to pay for private mortgage insurance, which increases their monthly costs. Jonnelle Marte, chicagotribune.com, "Black homeownership is stuck near 30-year lows," 6 July 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'down payment.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

See More

First Known Use of down payment

1926, in the meaning defined above

Keep scrolling for more

Learn More about down payment

Share down payment

Dictionary Entries near down payment

downmost

downness

Downpatrick

down payment

downpipe

downplay

downpour

Statistics for down payment

Last Updated

5 Feb 2019

Look-up Popularity

Time Traveler for down payment

The first known use of down payment was in 1926

See more words from the same year

Keep scrolling for more

More Definitions for down payment

down payment

noun

English Language Learners Definition of down payment

: a first payment that you make when you buy something with an agreement to pay the rest later

down payment

noun

Kids Definition of down payment

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

Keep scrolling for more

More from Merriam-Webster on down payment

Rhyming Dictionary: Words that rhyme with down payment

Thesaurus: All synonyms and antonyms for down payment

Spanish Central: Translation of down payment

Nglish: Translation of down payment for Spanish Speakers

Comments on down payment

What made you want to look up down payment? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

to deny responsibility for

Get Word of the Day daily email!

Test Your Vocabulary

What did you just call me?! A Quiz

  • rows-of-various-emoji
  • If a member of the audience describes your speech as bombastic, does that person mean it is:
Name That Thing

Test your visual vocabulary with our 10-question challenge!

TAKE THE QUIZ
Citation

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!