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Down payment
A payment representing a fraction of the price of something being purchased, made to secure the right to continue making payments towards that purchase.
📖 Definitions of "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.
💡 Words with a Similar Meaning to "Down payment"
Found via reverse dictionary — words that share a conceptual meaning.
| Word | Definition |
|---|---|
| depositnoun | (banking) Money placed in a bank account, as for safekeeping or to earn interest. |
| downpaymentnoun | Alternative form of down payment. [(law, finance) A payment representing a fraction of the price of something being purchased, made to secure the right to continue making payments towards that purchase.] |
| buydownnoun | (mortgage finance) A payment by a third-party to a lender to reduce some of all of the payments otherwise required, especially in first few years of the loan, thereby enhancing the apparent quality of the loan. |
| financenoun | The management of money and other assets. |
| holdbacknoun | A restraint; a device or part of a device that operates to restrain. |
| security depositnoun | An amount of money paid in advance as security against the payor's non-performance of a contractual obligation. |
| bindernoun | Someone who binds. |
| bondnoun | (law) A document constituting evidence of a long-term debt, by which the bond issuer (the borrower) is obliged to pay interest when due, and repay the principal at maturity, as specified on the face of the bond certificate. The rights of the holder are specified in the bond indenture, which contains the legal terms and conditions under which the bond was issued. Bonds are available in two forms: registered bonds, and bearer bonds. |
| paydownnoun | (finance) The reissue of an unpaid debt for less than the initial issue. |
| deposit contractnoun | (law, banking) A contractual agreement governing the handling of deposited assets, for example in a bank. |
| dation in paymentnoun | (law) The agreed discharge of a debt by giving something differing in character from that of the original debt |
| rentalnoun | The payment made to rent something. |
| compositionnoun | A work of music, literature or art. |
| earnestnoun | Gravity; serious purpose; earnestness. |
| counterpaymentnoun | A payment made to recompense, in part or in full, someone who has made a payment. |
| press moneynoun | Synonym of earnest money (“money paid as a deposit”). |
| fine | Senses referring to subjective quality. |
| loannoun | (law, banking, finance) A sum of money or other property that a natural or legal person borrows from another with the condition that it be returned or repaid over time or at a later date (sometimes with interest). |
| amortizationnoun | The reduction of loan principal over a series of payments. |
| back paymentnoun | An overdue payment from a debtor to a creditor on money owed. |
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