Question

What is a down payment
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Answer 1

Down payment, is an initial up-front partial payment for the purchase of expensive items/services such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction. A loan of some sort is then required to finance the remainder of the payment.

Answer 2

A down payment is an initial up-front partial payment for the purchase of an expensive item/service, such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction

Explanation: