down payment

noun — 2 senses

down payment

noun
1

Business, Finance, Law 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

Broadly Any initial commitment signifying an intention to carry out a larger future commitment, even though no legal rights or obligations are secured.

  • Her parents considered her school tuition a down payment on her future.
  • After decades of empty rhetoric, that's the down payment that we need on energy independence.2009 February 5, Barack Obama, My Door is Always Open:
2 more examples
  • 2009 April 4, Barack Obama, NATO summit These commitments of troops, trainers, and civilians represent a strong down payment on the future of our mission in Afghanistan and on the future of NATO.
  • After all, when you buy a car, you're making a large down payment on future journeys - buying an annual rail pass or railcard should be no different.2022 March 9, Ben Jones, “RAIL Supplement: Return Ticket”, in RAIL, number 952, page 26 (supplement):
Derived terms
downposit

Entry derived from the Wiktionary, under licence CC BY-SA 4.0 — list of authors.

Learn more