How Do You Spell DOWNPAYMENT?

Pronunciation: [dˈa͡ʊnpe͡ɪmənt] (IPA)

The word "downpayment" is spelled as /ˈdaʊnˌpeɪmənt/ in IPA phonetic transcription, with the stress on the first syllable. The "d" sound is followed by the "ow" diphthong, which is pronounced as a combination of "a" and "o" sounds. The "n" sound is then followed by the short "e" vowel sound, which is pronounced as "eh". The second syllable has the "ay" diphthong followed by the "m" and "uh" sounds. This spelling accurately represents the sounds in the word "downpayment".

DOWNPAYMENT Meaning and Definition

1. A downpayment refers to the initial amount of money or partial payment made by a buyer when purchasing a property, vehicle, or any expensive item or service. Typically, when making a big-ticket purchase, the buyer pays a percentage of the total purchase price upfront, while the remaining balance is usually financed through a loan or installment plan.

   The purpose of a downpayment is twofold: firstly, it serves as an indication of the buyer's commitment towards the purchase. By investing their own funds, buyers demonstrate a level of financial responsibility and seriousness in acquiring the item or service. Secondly, a downpayment helps to minimize the risk for the lender or seller. By requiring an upfront payment, the lender or seller gains some protection in case the buyer defaults on their obligations or the item to be bought loses value.

   The amount of the downpayment is generally calculated as a percentage of the total purchase price. This percentage can vary depending on several factors, such as the type of purchase, the buyer's creditworthiness, and the terms set by the lender or seller. Higher downpayments are usually encouraged as they reduce the overall loan amount and may even result in better interest rates and lower monthly payments.

   In summary, a downpayment represents the initial financial contribution made by a buyer when purchasing an expensive item or service and serves as an indicator of their commitment and a means to reduce risk for the lender or seller.

Common Misspellings for DOWNPAYMENT

• down payment
• xownpayment
• cownpayment
• fownpayment
• rownpayment
• eownpayment
• diwnpayment
• dkwnpayment
• dlwnpayment
• dpwnpayment
• d0wnpayment
• d9wnpayment
• doqnpayment
• doanpayment
• dosnpayment
• doenpayment
• do3npayment
• do2npayment
• dowbpayment
• dowmpayment

Etymology of DOWNPAYMENT

The word "downpayment" has its roots in the Old English language. It originated from two separate words: "down" and "payment".

1. "Down" in this context means "partial" or "incomplete". It comes from the Middle English word "doun", which is derived from the Old English word "adūne", meaning "from a higher to a lower place" or "from above to below".

2. "Payment" comes from the Middle English word "paiment", which in turn derives from the Old French word "paiement". Ultimately, it can be traced back to the Latin word "pacare", meaning "to pacify" or "to satisfy".

When the words "down" and "payment" were combined, it gave birth to the term "downpayment", referring to an upfront partial payment made towards a larger sum.

Similar spelling words for DOWNPAYMENT

• down payment,
• tournament.

Plural form of DOWNPAYMENT is DOWNPAYMENTS