down payment

noun

: a first payment that you make when you buy something with an agreement to pay the rest later

Full Definition of DOWN PAYMENT

: 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

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1926

DOWN PAYMENT Defined for Kids

noun

: a part of a price paid when something is bought with an agreement to pay the rest later

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