“Down Payment”: What It Is and How To Spell It

Spelling “Down Payment”

The correct spelling of down payment is always as two words, never as one:

A down payment is “a payment representing a fraction of the price of something being purchased.” For example, when someone buys a car or a house, they usually have to pay a down payment (unless they’re buying it with cash, of course).

Lily is saving up to put a down payment on a new house.

When Alex couldn’t afford a down payment on the motorcycle, we gifted it to him on his birthday.

The realtor informed us that we’d have to pay 10% as a down payment.

Synonyms of “Down Payment”

Words with similar meanings that can sometimes be used in place of down payment are:

1. Deposit
2. Prepayment
3. Installment

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