Description

A down payment refers to an initial payment made when purchasing a large item, such as a home or vehicle, which reduces the amount financed. This payment is typically a percentage of the total purchase price and demonstrates the buyer's commitment to the transaction.

Interpreter Notes

Interpreters should be aware that 'pago inicial' is the most commonly used term in formal contexts, while 'enganche' may be heard in Mexico as a regional variant. It is important to avoid using colloquial terms that may not be understood universally in medical or financial discussions.

Example Sentences

EN: The buyer made a substantial down payment to secure the property.

ES: El comprador realizó un pago inicial sustancial para asegurar la propiedad.

Common Interpreter Mistakes

Confusing 'pago inicial' with 'pago total'; mixing up 'enganche' with unrelated terms; misinterpreting the financial context of the term.