down payment

noun

Updated on: 14 May 2018

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

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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 of down payment from the Web

Although details of that bill have not been made public, Culberson seems eager to provide a down payment for a significant NSF investment in at least one of the billion-dollar telescope projects by using the agency’s new construction account.

— jeffrey mervis, Science | AAAS, "House spending bill could brighten prospects for two giant telescopes," 11 May 2018
Rocha said the inaugural event has been pre-approved by officials with The Woodlands Township and the organization has made a security deposit down payment with the township and is in the planning stages for the event.

— joey guerra, Houston Chronicle, "The Woodlands to host inaugural Pride Festival," 9 May 2018
Last December, as Scottsdale parents were receiving yet another solicitation for donations to pay teachers, the Blocks made a $1.68 million down payment on an $8.4 million condominium in New York City, property records show.

— craig harris, azcentral, "At Basis charter schools, another way to boost teacher pay: Parent donations," 7 May 2018
With a $250 down payment just out of high school, the Scott brothers bought and flipped their first house and have, in turn, created a real estate empire.

— susannah hutcheson, USA TODAY, "Drew Scott of 'Property Brothers': How I became a house flipper and entrepreneur," 17 Apr. 2018
That 2006 law requires the Postal Service to prefund 75 years’ worth of retiree health benefits — which basically means USPS has make a down payment on future obligations, no matter what.

— jen kirby, Vox, "Trump thinks Amazon’s destroying the post office. Here’s what’s really happening.," 30 Mar. 2018
Prices As home prices rise, so do the down payment requirements for a conventional mortgage loan.

— randy tucker, Cincinnati.com, "Cincinnati's hot housing market: Five things you need to know," 24 Apr. 2018
But the Trulia study also assumed potential buyers would be able to afford a 20 percent down payment, which many people have difficulty saving for, because rent is rising as fast as for-sale housing prices.

— ely portillo, charlotteobserver, "Here's why teachers, first responders might not be able to afford living in Charlotte | Charlotte Observer," 10 Apr. 2018
The city has also doubled funding, to $1 million, for a loan program for middle-income homebuyers who need assistance with a down payment or closing costs.

— milton j. valencia, BostonGlobe.com, "Walsh commits $50 million to Long Island bridge in new budget," 10 Apr. 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.

First Known Use of down payment

1926

in the meaning defined above

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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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See words that rhyme with down payment Spanish Central: Translation of down payment Nglish: Translation of down payment for Spanish speakers

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down payment

Definition of down payment

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DOWN PAYMENT Defined for English Language Learners

down payment

Definition of down payment for English Language Learners

DOWN PAYMENT Defined for Kids

down payment

Definition of down payment for Students

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down payment

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