pay down

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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 ?
Then, after obtaining a verbal sanction from the prefect, and by paying down the money, I had several of these unfortunate creatures transported over to Aiguebelle, in Savoy, by night.
Using a tax refund to pay down debt is consistent with previous CIBC polls that found paying down debt has been the top financial priority for Canadians for five years running, with 85 per cent of Canadians taking steps to reduce their personal debt levels.
The site essentially "gamifies" user savings and paying down debt.
Brenner recommended the pay-down option, arguing that the town will save $750,000 by paying down debt, rather than giving taxpayers a one-time break on their taxes.
But when the corporate sector starts paying down debt while the household sector continues to save, a leakage to the income stream equivalent to the sum of household savings and corporate debt repayment is created.
If the client itemizes deductions, paying down a loan with deductible interest provides a risk-free rate of return effectively equal to the loan's interest rate minus the marginal rate of tax savings forgone.
Instead, Schwarzenegger has proposed dedicating the money to paying down transportation bond debt, including past bonds and those that will be submitted to voters in November.
This transaction also enabled us to strengthen our balance sheet by paying down our floating rate debt.
That depends on your circumstances," says Almond, "but in today's uncertain times, leveraging your business by carrying large loans may be risky, I've never seen anyone go bankrupt by paying down debt.
The President's budget proposal, by preserving future surpluses and paying down our national debt, makes an important contribution to raising national saving.
Twenty-two percent choose paying down debt as the top resolution, compared with 20 percent last year.
They have become suppliers of funds because so many companies are paying down debt.
Refinancing has been credited with saving the nation's economy in the last several years, when homeowners took out billions of dollars of equity in their homes in cash and poured the money into home remodeling, car purchases, college funding and paying down credit-card debt.
Paying down debt could improve your credit score and increase your chances of marital bliss.
This is needed in order to both stabilize the economy and keep the money supply from shrinking as a result of the private sector paying down debt.