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

Back then, most down payments were set at 50%, making homeownership unaffordable for many Americans. —Samantha Delouya, CNN, 19 Feb. 2025

Also, making a larger down payment and/or settling for fewer annual miles allowed will typically result in a more-affordable monthly expenditure. —Jim Gorzelany, Forbes, 19 Feb. 2025

But think of it as a down payment, an attention-getter. —Dan Perry, Newsweek, 19 Feb. 2025

Reality check: Cash gifts are still appreciated, especially for a down payment or honeymoon. —Axios, 14 Feb. 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