down payment

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Definitions from WordNet

Noun down payment has 1 sense

down payment, deposit - a partial payment made at the time of purchase; the balance to be paid later
--₁ is a kind of payment
--₁ has particulars: margin, security deposit

Definitions from the Web

Term: Down payment

Noun:

1. An initial payment made when purchasing a big-ticket item or property, typically a percentage of the total cost.

Example sentences:

I had to save up for months to afford the down payment on my new car.
They require a 20% down payment when buying a house.

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