an initial, partial payment on a purchase
down payment
down paymentWebster's New World College Dictionary, Fifth Edition Copyright © 2014 by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
Link to this page
Cite this page
MLA Style
"Down payment." YourDictionary. LoveToKnow. www.yourdictionary.com/down-payment.
APA Style
Down payment. (n.d.). In YourDictionary. Retrieved from https://www.yourdictionary.com/down-payment
down payment
noun
A partial payment made at the time of purchase, with the balance to be paid later.
THE AMERICAN HERITAGE® DICTIONARY OF THE ENGLISH LANGUAGE, FIFTH EDITION by the Editors of the American Heritage Dictionaries. Copyright © 2016, 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
Link to this page
Cite this page
MLA Style
"Down payment." YourDictionary. LoveToKnow. www.yourdictionary.com/down-payment.
APA Style
Down payment. (n.d.). In YourDictionary. Retrieved from https://www.yourdictionary.com/down-payment
Noun
(plural down payments)
- (law) A payment representing a fraction of the price of something being purchased, made to secure the right to continue making payments towards that purchase.
- By extension, any initial commitment signifying an intention to carry out a larger future commitment, even though no legal rights or obligations are secured.
English Wiktionary. Available under CC-BY-SA license.
Link to this page
Cite this page
MLA Style
"Down payment." YourDictionary. LoveToKnow. www.yourdictionary.com/down-payment.
APA Style
Down payment. (n.d.). In YourDictionary. Retrieved from https://www.yourdictionary.com/down-payment
down payment - Investment & Finance Definition
An upfront payment that is made on an item that will be paid for over time, such as a house or a car. The down payment reduces the amount of money that needs to be borrowed, and thus decreases the monthly payment. For homes, typically down payments are equal to at least ten percent of the purchase price of a house; however, in some circumstances the down payment may be less.
Webster's New World Finance and Investment Dictionary Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.
Used by arrangement with John Wiley & Sons, Inc.
Link to this page
Cite this page
MLA Style
"Down payment." YourDictionary. LoveToKnow. www.yourdictionary.com/down-payment.
APA Style
Down payment. (n.d.). In YourDictionary. Retrieved from https://www.yourdictionary.com/down-payment
