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

Some lenders are now offering mortgages to ITIN holders who can prove stable income and make a substantial down payment. — Efri Argaman, Forbes.com, 29 July 2026

Spending spree Billionaire Rick Jackson is reaching into his fortune again, this time for an $87 million ad buy that amounts to a huge down payment on the fall campaign. — Adam Beam, AJC.com, 28 July 2026

Younger millennials, meanwhile, are buying homes 500 square feet smaller with a median down payment of just 9%, compared to 13% for their older counterparts and 26% or more for boomers. — Nick Lichtenberg, Fortune, 27 July 2026

Many is the young Chicagoan of modest means who saved for a down payment, got a mortgage for a condo or a bungalow, and then was able to enjoy some appreciation in a Bucktown, a Bronzeville or a Logan Square. — The Editorial Board, Chicago Tribune, 26 July 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