pay down

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Also found in: Financial.

pay down

1. To provide a monetary deposit in exchange for something; to make a down payment. A noun or pronoun can be used between "pay" and "down." How much would I have to pay down for this car?
2. To pay small amounts of money over time to decrease a debt. A noun or pronoun can be used between "pay" and "down." I'm trying to pay down my credit card debt, but it's hard because my freelance jobs are so unpredictable.
See also: down, pay

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
References in classic literature ?
By this assistance, after many interviews with the bassa's agents, we agreed to pay four thousand three hundred crowns, which were accepted on condition that they should be paid down, and we should go on board within two hours: but, changing his resolution on a sudden, he sent us word by his treasurer that two of the most considerable among us should stay behind for security, while the rest went to procure the money they promised.
I go there every year shooting, and your forest's worth a hundred and fifty roubles and acre paid down, while he's giving you sixty by installments.
Sometimes they played out the toll across a bridge or ferry, and once exhibited by particular desire at a turnpike, where the collector, being drunk in his solitude, paid down a shilling to have it to himself.
Disputes were brought to him in his hiding-hole to be decided; and the men of his country, who would have snapped their fingers at the Court of Session, laid aside revenge and paid down money at the bare word of this forfeited and hunted outlaw.
Of this, only three hundred dollars had to be paid down, the balance being paid at the rate of twelve dollars a month.
I've seen over a thousand, in my day, paid down for gals not a bit handsomer.
If, in truth, these attentions could be of any use to the deceased, he had some right to expect them at the hands of the brethren of Saint Edmund's, since, besides a hundred mancuses of gold paid down as the soul-ransom, the mother of Athelstane had announced her intention of endowing that foundation with the better part of the lands of the deceased, in order to maintain perpetual prayers for his soul, and that of her departed husband.
Of these, the first may have been that her son had never signified the smallest intention to ask her consent, or any mistrust of his ability to dispense with it; the second, that the pension bestowed upon her by a grateful country (and a Barnacle) would be freed from any little filial inroads, when her Henry should be married to the darling only child of a man in very easy circumstances; the third, that Henry's debts must clearly be paid down upon the altar-railing by his father-in-law.
We wull be buyun' ut," he said, "though we wull be no tellun' a soul of ut ontul ut's bought an' the money paid down.
The DWP has already paid down more than $1 billion on its operating debt over the past two years as it has been preparing for deregulation and competition from other electric companies.
Forty-two percent of respondents said they have paid down their debt compared to 30 percent the previous quarter.
As of the February 2007 remittance report, the transaction has paid down 56.
31, 2006, GECAF 2004-1 had paid down to a collateral pool factor of .
As of the December 2006 remittance report, the transaction has paid down 41.
As of November 2006 payment date class A-1 notes have been paid down by 24.