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

Without access to grant programs like the one her grandson’s foundation now offers, Julie had to find creative solutions to overcome the financial hurdle of a down payment. —Kimberly Wilson, Essence, 6 Apr. 2025

Fortunately, several financing solutions exist for buyers who either don’t have the cash readily available for a down payment or prefer not to deplete their personal reserves. —Lucas Bucl, Kansas City Star, 2 Apr. 2025

Millennials often have to rely on their family members to be able to afford a down payment on a home: 33 percent of younger millennials received down payment help in the form of a gift or a loan from a friend or relative, NAR found. —Jason D. Greenblatt, MSNBC Newsweek, 2 Apr. 2025

The $1,000 was a down payment on a $10,000 murder contract that was not carried out, according to court filings in federal court in Burlington. —Edmund H. Mahony, Hartford Courant, 1 Apr. 2025

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