DOWNPAYMENT

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.

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down payment

Noun

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


The above text is a snippet from Wiktionary: down payment
and as such is available under the Creative Commons Attribution/Share-Alike License.

downpayment

Noun



The above text is a snippet from Wiktionary: downpayment
and as such is available under the Creative Commons Attribution/Share-Alike License.

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