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pay down

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pay something down

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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