Meaning of “pay sth down” in the English Dictionary

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"pay sth down" in Business English

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pay sth down

phrasal verb with pay uk /peɪ/ us verb paid, paid

COMMERCE to pay a part of the total cost of something when you buy it. The rest of the cost is usually paid over a period of time:

You can pay £500 down on the car now, and then pay £100 a month.
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(Definition of “pay sth down” from the Cambridge Business English Dictionary © Cambridge University Press)