down payment definition

  • noun:
    • A partial payment made during the time of acquisition, aided by the stability to be paid later.
    • A payment representing a portion of the price tag on one thing becoming bought, designed to secure the ability to continue making payments towards that purchase.
    • By expansion, any preliminary dedication signifying an intention to carry out a bigger future commitment, although no rights or responsibilities tend to be secured.
    • a partial payment made during the time of purchase; the balance becoming paid later

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