What is another word for downpayment?
Pronunciation: [dˈa͡ʊnpe͡ɪmənt] (IPA) 
A downpayment is a sum of money paid upfront as a percentage of the total cost of a big-ticket item. Common synonyms for downpayment include deposit, initial payment or upfront payment. Other terms used for downpayment vary based on the industry being referred to, such as in real estate, where it is also known as earnest money or a commitment fee. In the automotive industry, it may be referred to as a trade-in or vehicle exchange. In the travel and hospitality industry, a deposit may be called a prepayment or advance payment. Regardless of the industry, the purpose of a downpayment is to mitigate risk and demonstrate commitment on the part of the buyer.
