No. A downpayment is a nonrefundable form of collateral which is applied to the sale of the vehicle. For example: If a car cost $10,000 and you give a downpayment of 15% ($1,500) you've applied your...
A "down payment" is an initial sum of money or something else of value that is paid to secure the purchase, barter, or trade for another thing of value. In effect, it is intended to ensure that the...