Definitions for down payment
down pay·ment

Princeton's WordNetRate this definition:0.0 / 0 votes

1. down payment, depositnoun

   a partial payment made at the time of purchase; the balance to be paid later

WiktionaryRate this definition:0.0 / 0 votes

1. down paymentnoun

   A payment representing a fraction of the price of something being purchased, made to secure the right to continue making payments towards that purchase.

2. down paymentnoun

   By extension, any initial commitment signifying an intention to carry out a larger future commitment, even though no legal rights or obligations are secured.

WikidataRate this definition:0.0 / 0 votes

1. Down payment

   Down payment is a payment used in the context of the purchase of expensive items such as a car and a house, whereby the payment is the initial upfront portion of the total amount due and it is usually given in cash at the time of finalizing the transaction. A loan or the amount in cash is then required to make the full payment. The main purposes of a down payment are to ensure that the lending institution has enough capital to create money for a loan in fractional reserve banking systems and to recover some of the balance due on the loan in the event that the borrower defaults. In real estate, the asset is used as collateral in order to secure the loan against default. If the borrower fails to repay the loan, the lender is legally entitled to sell the asset and retain a portion of the proceeds sufficient to cover the remaining balance on the loan, including fees and interest added. A down payment in this case reduces the lender's risk to less than the value of the collateral, making it more likely that the lender will recover the full amount in the event of default. The size of the down payment thus determines the extent to which the lender is protected against the various factors that might reduce the value of the collateral, as well as lost profits between the time of the last payment and the eventual sale of the collateral.

Matched Categories

1. • Payment

How to pronounce down payment?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say down payment in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of down payment in Chaldean Numerology is: 5

2. Pythagorean Numerology

   The numerical value of down payment in Pythagorean Numerology is: 6

Examples of down payment in a Sentence

1. Warrick Dunn:

   $ 5,000 down payment and we fully furnish their homes with food, furniture, linens, garden tools, TVs, computers all the way down to the toothbrush, the more I learned, we wanted to get into the business of giving people the potential to break their cycle of poverty.

2. President Trump:

   He also said they are still considering restrictive language in the appropriations bill and what that means for current projects. He added that money, which he called a down-payment, will be funding construction and repair in areas including San Diego, Calexico, and Santa Theresa, New Mexico. He said that the Calexico project started last week. President Trump objected to the $ 1.3 trillion omnibus bill due to the lack of funding for border security, and has been looking into the possibility of getting the military to fund the approximately $ 25 billion project. Conservatives noted that the bill limited the approximately 100 miles of new construction and repairs to already approved models -- not the prototypes President Trump recently viewed in California. While Vitiello noted that a lot of the 100 miles was replacement, he said it was new construction and that some parts are moving from old, often dilapidated fencing to 30-foot steel bollard designs. He said that, for instance, in El Paso a three-foot vehicle barrier was being replaced by 18 or 30 foot wall. On what needs to be done, Vitiello said that that the entire wall project would cover approximately 1,000 miles with various wall structures, he believed $ 25 billion in funding would adequately fund that project. He said that from the testing of the prototypes, a new design standard was being formulated that would be used going forward. Currently, approximately 654 miles of the border are covered by some form of fencing or barrier. Vitiello's remarks come a day after President Trump touted the early stages of construction at a speech in Richfield, Ohio. We started our wall — what a thing of beauty.

3. Chuck Schumer:

   The bill will represent a substantial down payment towards the level of infrastructure investment our country needs, and for the first time, the Senate has come together around such a package in decades.

4. De Jesus:

   When clients come to a store, they want to know exactly if the down payment suits their pockets, and Santander's tools show it immediately, other banks are copying it now.

5. Biden TransitionBiden:

   I think they're on their way to being able to come up with a package that meets the basic immediate needs that we have, but I've made it real clear, it's just a down payment. This is not the end of the deal.

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=down payment
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Down_Payment
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=down payment