down payment

noun
Updated on: 12 Nov 2017

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

  1. She made a 10 percent down payment on the car.

  2. We put a down payment on the house.

Recent Examples of down payment from the Web

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.

First Known Use of down payment

1926


DOWN PAYMENT Defined for English Language Learners

down payment

noun

Definition of down payment for English Language Learners

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


DOWN PAYMENT Defined for Kids

down payment

noun

Definition of down payment for Students

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


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