down payment

UK:*UK and possibly other pronunciationsUK and possibly other pronunciations/ˌdaʊnˈpeɪmənt/

WordReference Random House Learner's Dictionary of American English © 2020
ˈdown ˈpay•ment, n. [countable]
  • Businessan initial amount given as partial payment at the time of purchase.

  • WordReference Random House Unabridged Dictionary of American English © 2020
    down payment, 
    1. Businessan initial amount paid at the time of purchase, in installment buying, time sales, etc.
    2. 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.
    Also,  down-payment. 
    • 1925–30

    Collins Concise English Dictionary © HarperCollins Publishers::
    down payment n
    1. the deposit paid on an item purchased on hire-purchase, mortgage, etc
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