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 surveys offered scant insight into whether various measures to boost the property sector, such as cutting mortgage interest rates and down payments, have had much impact on an industrywide slump that followed a crackdown on excessive borrowing by developers. Beth Greenfield, Fortune Asia, 1 July 2024 However, compared to conventional mortgages, jumbo loans typically come with stricter qualification criteria, including larger down payments and higher credit score requirements. Essence, 14 June 2024 Moore had made a down payment on a mobile home in Auburn Hills and was planning to move there with her son. Bill Laytner, Detroit Free Press, 23 May 2024 Buyers are also having to come up with a huge down payment that’s roughly double the median salary of a US worker. Bryan Mena, CNN, 20 June 2024 See all Example Sentences for down payment 

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'down payment.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1854, in the meaning defined above

Time Traveler
The first known use of down payment was in 1854

Dictionary Entries Near down payment

Cite this Entry

“Down payment.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/down%20payment. Accessed 7 Jul. 2024.

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

More from Merriam-Webster on down payment

Last Updated: - Updated example sentences
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