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- DictionaryDown pay·ment/ˈdoun ˌpāmənt/
noun
- 1. an initial payment made when something is bought on credit: "it had taken their savings to make the down payment on a house"
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- Down payment
Payment
Down payment, is an initial up-front partial payment for the purchase of expensive items/services such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction. A loan of some sort is then required to finance the remainder of the payment. Wikipedia
