pay down

Also found in: Dictionary, Financial.

pay something down

1. Lit. to make a deposit of money on a purchase. You will have to pay a lot of money down on a car that expensive. I only paid down a few thousand dollars.
2. Fig. to reduce a bill by paying part of it, usually periodically. I think I can pay the balance down by half in a few months. I will pay down the balance a little next month.
See also: down, pay

pay down something

also pay something down
to reduce the total amount of money owed If this trend continues, the government could start paying down the national debt. We've got a big mortgage on the house and want to pay it down as quickly as we can.
Usage notes: most often used in connection with large debts
See also: down, pay
References in periodicals archive ?
And it rewards users each time they contribute to their savings or retirement accounts, pay down their credit cards, mortgages or other loans or engage with SaveUp's financial education content.
Pay down loans with nondeductible interest (such as auto loans with low financing rates) and loans with deductible interest (such as mortgage or home-equity loans).
If this deflationary gap is left unattended, the economy will continue to contract by the amount of the gap until the private sector has become too poor to save any money or pay down debt.
And many families fight to pay down their gas balances only to find they have soaring electricity bills.
9 trillion of current law surpluses over the next fifteen years to new spending and use the remainder to pay down our national debt.
Home Mortgage Customers Use Rewards to Pay Down Nearly $10.
With their main line of business and cash flow from building cars and cameras largely intact, the Japanese companies all began to use their earnings to pay down debt.
We know that some people are going to save it, some are going to use it to pay down debt, and some are going to spend it,'' he said.
The affirmations are due to pay down offset by increasing concentrations within the pool on the 10 credit assessed loans remaining, down from 22 at issuance.
Part of the refi money is being used to pay down debt, and part is going to spending - mostly responsible spending.
The upgrades are due to the repayment of several loans in the transaction as well as the partial pay down of the Colonnade Portfolio loan.
Greenspan claims that the goal of tax reduction can be consistent with the need to quickly pay down the national debt.
Since 2001, the city's accelerated pay down of generation related debt has totaled over $20 million, allowing the system to significantly improve its financial position.
We are going to use the land that is owned by the power side to pay down the debt and land owned by the water side to make sure we don't have to raise rates,'' Salas said.
PreTS XXIII is also collateralized with a principal strip issued by a government sponsored entity, which will mature in September 2016 and will be used to pay down the most senior notes outstanding at that date.