- the deposit paid on an item purchased on hire-purchase, mortgage, etc
WordReference Random House Learner's Dictionary of American English © 2020
ˈdown ˈpay•ment, n. [countable]WordReference Random House Unabridged Dictionary of American English © 2020
Businessan initial amount given as partial payment at the time of purchase.
- Businessan initial amount paid at the time of purchase, in installment buying, time sales, etc.
- any initial or partial payment, gift, favor, or recompense, as to reduce one's indebtedness or express one's obligation or gratitude:This gift is just a down payment for all the favors I owe you.
Collins Concise English Dictionary © HarperCollins Publishers::
down payment n
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