down payment

noun

an initial amount paid at the time of purchase, in installment buying, time sales, etc.

any initial or partial payment, gift, favor, or recompense, as to reduce one's indebtedness or express one's obligation or gratitude:

This gift is just a down payment for all the favors I owe you.

Also, down-payment.

Origin

1925-30

Examples from the web for down payment

Bringing in partners is a down payment on satisfied new faculty.
Six years should be the max length of a car loan and there needs to be increasing down payment requirements for longer loans.
It swiftly opened a local office, made a down payment and prepared to take possession of the land.
Sometimes a subprime loan requires a lower down payment than usual, meaning borrowers will build little equity in the house.
Should you decide to go ahead with your planning, it is here that you must put a down payment to secure your date.
They secure a fixed-rate mortgage at a reasonable rate, make a down payment, and make their mortgage payments each month.
But the purchase of instant fame requires a down payment.
More often buyers will make a down payment and then pay some or all of the remainder in installments to either you or a lender.
She did not even have to come up with a down payment.
He qualified for government insurance, which meant he needed only a small down payment.

British Dictionary definitions for down payment

noun

the deposit paid on an item purchased on hire-purchase, mortgage, etc

down payment in Culture

A payment in part made at the time of purchase of a good, with the promise to make full payment later.