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- Dictionarydown payment
noun
- 1. an initial payment made when something is bought on credit: "it had taken their savings to make the down payment on a house"
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Aug 26, 2024 · A down payment is a sum a buyer pays upfront when purchasing an expensive good such as a home or car. It represents a percentage of the total purchase price, and the balance is usually...
DOWN PAYMENT definition: 1. an amount of money that you pay at the time that you buy something but is only a part of the…. Learn more.
The meaning of DOWN PAYMENT is 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. How to use down payment in a sentence.
DOWN PAYMENT meaning: 1. an amount of money that you pay at the time that you buy something but is only a part of the…. Learn more.
In accounting, a down payment (also called a deposit in British English) is an initial up-front partial payment for the purchase of expensive goods or services such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction.
If you make a down payment on something, you pay only a percentage of the total cost when you buy it. You then finish paying for it later, usually by paying a certain amount every month.
a sum of money that is given as the first part of a larger payment. We are saving for a down payment on a house.
down payment - definition, audio pronunciation and more for down payment: the first amount of money that you pay when you buy something expensive and pay over a period of…:
Jul 12, 2019 · What is a Down Payment? A down payment is the initial payment a borrower puts toward a large purchase, and is usually a specified percentage of the total purchase price.
A down payment is an upfront payment made at the time of purchasing something. It is a portion of the full purchase price paid for out-of-pocket (as opposed to borrowing).
