down payment

Definition of "down payment"
  1. A large initial cash payment made by a buyer when purchasing a significant asset like a car or house, with the remaining cost covered by a loan
How to use "down payment" in a sentence
  1. He saved enough money to make a sizable down payment for his new car.
  2. Her goal was to avoid taking out a large mortgage, so she made a hefty down payment on her house.
  3. A higher down payment can often result in lower monthly payments for a loan.

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