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

According to an estimation from the governor’s office, about 40,000 low- to moderate-income Californians will receive down payment assistance through the measure, which was pulled from the ballot last minute in 2024. — Ben Paviour, Sacbee.com, 30 June 2026

Each sold for about $7,000, roughly $105,000 today, with no down payment required under the GI Bill. — Jonathan Tower, Forbes.com, 30 June 2026

Households planning to buy a home usually need to save for a down payment, keep a good credit score, and pay off outstanding debt. — Tristan Bove, Fortune, 30 June 2026

Such claims can lead to a lower mortgage rate and smaller down payment than if one of them was declared as a rental property or second home. — Mark Sherman, Chicago Tribune, 29 June 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