Down payment

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Updated: Aug 20, 2021

The part of the price of goods sold on hire purchase or instalment credit that has to be paid immediately. When hire purchase controls formed part of UK monetary policy, varying the required minimum down payment was used to influence demand for the goods concerned.

Reference: Oxford Press Dictonary of Economics, 5th edt.



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James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.