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

The money the couple saved for a down payment on a home has evaporated into attorneys fees and savings to pay a bond for her release, if she's given that chance. —Lauren Villagran, USA TODAY, 16 Mar. 2025

On Wednesday, Pine paid the detective $2,000 as a down payment for the murder. —Devoun Cetoute, Miami Herald, 7 Mar. 2025

That means instead of waiting for months to get a credit on their tax returns, buyers can get the credit knocked off the price of a vehicle and even use it as a down payment. —Camila Domonoske, NPR, 28 Feb. 2025

Remember your ‘why’ For some, a low-buy or no-buy challenge is a way to achieve financial goals, such as paying off debt or saving for a down payment on a house or car. —Nerdwallet, Boston Herald, 27 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