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

But that’s not enough for the ordinary bank, which also requires compliance with debt-to-income ratios and capital investments like down payments. —Debra Utacia Krol, USA TODAY, 3 Dec. 2024

Borrowers must make a 3% down payment and earn less than 140% of the area median income. —Kelsey Neubauer, CNBC, 2 Dec. 2024

Likewise with one that’s financed, but is worth more than is owed, either because of a hefty down payment or online valuation tools indicate a higher-than-expected resale value. —Jim Gorzelany, Forbes, 29 Nov. 2024

Her biggest needs are a computer, a car with self-braking, tuition to become an aesthetician and a down payment for a mobile home. —Nicole Villalpando, Austin American-Statesman, 26 Nov. 2024

Word History

First Known Use

1854, in the meaning defined above

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