Looking for synonyms for down payment? We’ve got you covered!
Here’s a list of other ways to say down payment.
- Initial Payment
- Deposit
- Advance Payment
- Upfront Payment
- Part Payment
- First Instalment
- Earnest Money
- Front Money
- Preliminary Payment
- Initial Installment
Want to learn how to say down payment professionally? Keep reading for examples and use cases.
1. Initial Payment
The term “initial payment” is often used in the context of financial transactions, particularly in real estate and automotive industries. It implies the first in a series of payments.
- Example: “The initial payment for the office building is due by the end of the month to secure the purchase agreement.”
2. Deposit
“Deposit” is commonly used in both financial and rental transactions. It signifies a part of the total amount paid upfront as a guarantee or security.
- Example: “We require a 20% deposit to start the manufacturing process for your custom order.”
3. Advance Payment
This term is typically used in business and service-related transactions, where a part of the payment is made ahead of the delivery of goods or services.
- Example: “An advance payment is necessary to confirm your booking for the event venue.”
4. Upfront Payment
“Upfront payment” is used when the entire or a significant portion of the payment is required at the beginning of a transaction or agreement.
- Example: “Full upfront payment is required for all special orders to cover the initial costs of materials.”
5. Part Payment
“Part payment” refers to paying a portion of the total amount, often in installment plans or staggered payment agreements.
- Example: “Your part payment this month will be applied towards the outstanding balance of your loan.”
6. First Instalment
This term is specific to installment payment plans, indicating the first in a series of recurring payments.
- Example: “Your first instalment for the new software subscription is due next week.”
7. Earnest Money
In real estate, “earnest money” is a deposit made to demonstrate the buyer’s serious interest in a property.
- Example: “The earnest money will be held in escrow until the deal closes.”
8. Front Money
“Front money” is often used in investment and entertainment industries, implying an upfront payment to start a project or an investment.
- Example: “The producer requires front money to initiate the pre-production phase of the film.”
9. Preliminary Payment
This term is used for an initial payment, often in the context of projects or agreements where future payments depend on certain conditions or milestones.
- Example: “A preliminary payment is required to cover the initial expenses of the research project.”
10. Initial Installment
Similar to “first instalment,” this term is used in contexts where payments are made in a series, typically in financing or layaway plans.
- Example: “Your initial installment for the car lease is slightly higher to include the administrative fees.”
