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general::
Phrase(s): 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.
McGrawhill's American Idioms And Phrasal Verbs