Description

A down payment is an initial payment made when purchasing a large item, typically a home or vehicle. It represents a percentage of the total cost and is often required to secure financing or a loan.

Interpreter Notes

Interpreters may encounter various terms for down payment in different contexts, such as 'enganche' in Mexico or 'cuota inicial' in other Latin American countries. It is important to maintain a formal register and avoid colloquial terms unless specified by the client.

Example Sentences

EN: The buyer made a down payment of 20% to secure the mortgage.

ES: El comprador realizó un pago inicial del 20% para asegurar la hipoteca.

Common Interpreter Mistakes

Confusing 'down payment' with 'deposit'; using informal terms like 'enganche' in inappropriate contexts; misinterpreting the percentage required for different types of purchases.