Answer:
cash payment made by the borrower of a percentage of the total cost
Explanation:
first payment comes after the down-payment and once you start your reoccurring payments
and a fee paid to process the loan is something else not the down-payment
Answer:
cash payment made by the borrower of a percentage of the total cost
Explanation:
Its usually a percentage of total cost of something large you are buying while financing the rest of the balance. Like 10% down on a $5000 car is $500 cash you put down out your pocket, while financing the remaining $4500.
