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 And Olivier is budgeting to make a down payment on a car. Michael Dumas, al, "Event seeks to fund lasting change for families in need," 9 Oct. 2019 That may be a down payment on the battle’s possibly enormous final tally. Jack Fowler, National Review, "Time to Mann Up," 8 Oct. 2019 Across the country, cities are facing an affordable housing crisis that has left people unable to make a down payment on a home or pay rent. Liz Stinson, Curbed, "Eco-friendly prefab homes designed to boost cities’ housing stock," 29 July 2019 The bill’s passage was a political victory for the governor, but some questioned whether California leaders were just making a down payment for wildfire costs that will skyrocket if more isn’t done to prevent ever-larger blazes. Taryn Luna, latimes.com, "Utility customers will pay $10.5 billion for California wildfire costs under bill sent to Newsom," 11 July 2019 Rent-to-own agreements can be a way for people who lack a good credit rating or down payment to still eventually buy a home. Crystal Hill, Indianapolis Star, "'A dream destroyed': How a homeownership deal left an Indianapolis couple homeless," 3 Dec. 2019 Such districts are expected to see millions in fresh spending from the new law — a down payment meant to reverse yawning student achievement gaps fueled by years of underinvestment. BostonGlobe.com, "LYNN — Step into Kaitlyn Lausier’s basement classroom, and years of financial neglect in this once-prospering city can be seen everywhere: the long fluorescent tube lights, the bare brick walls, the flaking radiator that warns in English and Spanish not to touch its scorching sides.," 3 Dec. 2019 New York City’s real estate market is favorable to buyers right now, making this an opportune moment for people who have managed to save enough for a down payment to purchase their first home. Michael Kolomatsky, New York Times, "The Best New York Neighborhoods for Your First Home," 28 Nov. 2019 Another added benefit is the financing and low down payments available. Houston Chronicle, "Southerland Communities announces its sneak preview," 23 Nov. 2019

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.

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First Known Use of down payment

1854, in the meaning defined above

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Time Traveler for down payment

Time Traveler

The first known use of down payment was in 1854

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Statistics for down payment

Last Updated

8 Jan 2020

Cite this Entry

“Down payment.” The Merriam-Webster.com Dictionary, Merriam-Webster Inc., https://www.merriam-webster.com/dictionary/down%20payment. Accessed 18 January 2020.

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More Definitions for down payment

down payment

noun

English Language Learners Definition of down payment

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

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

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More from Merriam-Webster on down payment

Thesaurus: All synonyms and antonyms for down payment

Rhyming Dictionary: Words that rhyme with down payment

Spanish Central: Translation of down payment

Nglish: Translation of down payment for Spanish Speakers

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