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 The net proceeds will mostly be used for the down payment on the next property. Liz Weston, oregonlive, 4 June 2022 Instead, the down payment would likely be around 20%, or about $30,000. Steve Strauss, USA TODAY, 27 Apr. 2022 During the buying process, multiple professionals asked her whether the down payment was coming from her father. Kara Baskin, BostonGlobe.com, 10 Apr. 2022 Putting in the down payment on a place, moving in with someone new, or rearranging your current household could help to bring more comfort to your life. Tarot Astrologers, chicagotribune.com, 12 Nov. 2021 Inflation and rising gas prices also ate up extra cash that might have been earmarked for a down payment or monthly payments on a newer vehicle under normal economic conditions. Jayme Deerwester, USA TODAY, 24 May 2022 No down payment was required and equity grew as the market improved and their hard work paid off. oregonlive, 15 May 2022 If the home price declines, Mr. Slater said, the state would be repaid if money is left over after the purchaser pays back their mortgage loan and recoups their portion of the down payment. Christine Mai-duc, WSJ, 11 May 2022 Secondly, your spending plan will pave the way for bigger splurge purchases – like a luxury vacation or the down payment on a home or new car. David Rae, Forbes, 3 May 2022 See More

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

1854, in the meaning defined above

Learn More About down payment

Time Traveler for down payment

Time Traveler

The first known use of down payment was in 1854

See more words from the same year

Dictionary Entries Near down payment

Downpatrick

down payment

downpipe

See More Nearby Entries 

Statistics for down payment

Last Updated

17 Jun 2022

Cite this Entry

“Down payment.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/down%20payment. Accessed 25 Jun. 2022.

Style: MLA
MLACheck Mark Icon ChicagoCheck Mark Icon APACheck Mark Icon Merriam-WebsterCheck Mark Icon

More Definitions for down payment

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

More from Merriam-Webster on down payment

Thesaurus: All synonyms and antonyms for down payment

Nglish: Translation of down payment for Spanish Speakers

WORD OF THE DAY

Test Your Vocabulary

Odd Habits and Quirks

  • image1926873504
  • Which of the following best describes an easily irritated person?
True or False

Test your knowledge - and maybe learn something along the way.

TAKE THE QUIZ
Universal Daily Crossword

A daily challenge for crossword fanatics.

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!