The-definition.com

Definition

Down payment

Down payment is a cash payment credited against the purchase price of a vehicle, which reduces the amount to be financed. In a lease transaction, this amount is often referred to as the "capital reduction."

Share it:  Cite

More from this Section

  • Diverter valve
    Diverter valve is on an engine equipped with an air pump, a valve activated during deceleration ...
  • Aftermarket part
    Aftermarket part means any service replacement part not obtained from the vehicle manufacturer ...
  • Crude Oil
    Crude Oil is a petroleum product made up of hydrocarbon deposits and other organic components ...
  • Crankshaft
    Crankshaft is the central machined shaft in an internal combustion engine. The crankshaft ...
  • Tire speed rating
    Tire speed rating is an alphanumeric value assigned to a tire by its manufacturer that ...