Prepayment
noun
Payment made before a service or good is received or used.
The supplier offers a discount for prepayment of the next batch of goods.
Often appears as...
- make a prepayment
- prepayment for goods
noun
An amount paid as part of mortgage or loan before it's due.
The bank allows prepayment of the loan without any penalty.
Often appears as...
- loan prepayment
- mortgage prepayment
Usage tips
Technical
noun
An amount paid ahead of time for utilities like electricity or gas.
We've made a prepayment for three months of electricity.
Often appears as...
- electricity prepayment
- gas prepayment
noun
Payment made before a service or good is received or used.
The supplier offers a discount for prepayment of the next batch of goods.
Often appears as...
- make a prepayment
- prepayment for goods
noun
An amount paid as part of mortgage or loan before it's due.
The bank allows prepayment of the loan without any penalty.
Often appears as...
- loan prepayment
- mortgage prepayment
Usage tips
Technical
noun
An amount paid ahead of time for utilities like electricity or gas.
We've made a prepayment for three months of electricity.
Often appears as...
- electricity prepayment
- gas prepayment
Definition 1 of 3
Pro Tip 1/3Discount Benefit
Prepayment can sometimes lead to financial benefits, like discounts.
I got a 5% discount for prepayment of my magazine subscription.
Pro Tip 2/3Trust Implication
Prepayment signals trust in the provider and willingness to commit.
By making a prepayment, we're showing our trust in their services.
Pro Tip 3/3Budget Management
Prepayment can help with budgeting by paying for future expenses now.
We did a prepayment for the venue to budget our event expenses better.
Pro Tip 1/3Discount Benefit
Prepayment can sometimes lead to financial benefits, like discounts.
I got a 5% discount for prepayment of my magazine subscription.
Pro Tip 2/3Trust Implication
Prepayment signals trust in the provider and willingness to commit.
By making a prepayment, we're showing our trust in their services.
Pro Tip 3/3Budget Management
Prepayment can help with budgeting by paying for future expenses now.
We did a prepayment for the venue to budget our event expenses better.
Pro Tip 1/3Discount Benefit
Prepayment can sometimes lead to financial benefits, like discounts.
I got a 5% discount for prepayment of my magazine subscription.
Pro Tip 2/3Trust Implication
Prepayment signals trust in the provider and willingness to commit.
By making a prepayment, we're showing our trust in their services.
Pro Tip 3/3Budget Management
Prepayment can help with budgeting by paying for future expenses now.
We did a prepayment for the venue to budget our event expenses better.
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Video examples
Racism has a cost for...
he'd received a knock on the door from a broker promising to refinance his mortgage. But what the broker didn't tell him was that this was a new kind of mortgage. A mortgage with an inflated interest rate, and a balloon payment and a prepayment penalty if he tried to get out of it.
Video examples
Racism has a cost for...
he'd received a knock on the door from a broker promising to refinance his mortgage. But what the broker didn't tell him was that this was a new kind of mortgage. A mortgage with an inflated interest rate, and a balloon payment and a prepayment penalty if he tried to get out of it.
Example 1 of 1
Quote examples
Lisa Madigan
American Public Servant
I've repeatedly seen unscrupulous lenders use every con in the book to charm and lie to homeowners. Lenders actually paid brokers a premium to put people in higher-priced loans with toxic features, such as adjustable rates and prepayment penalties.
Quote examples
John Gavin
American Actor
Sure, I travel. I went to Washington to negotiate a $1 billion prepayment to Mexico on its oil revenues to help it out of its financial crisis.
Quote examples
Lisa Madigan
American Public Servant
I've repeatedly seen unscrupulous lenders use every con in the book to charm and lie to homeowners. Lenders actually paid brokers a premium to put people in higher-priced loans with toxic features, such as adjustable rates and prepayment penalties.
Quote examples
John Gavin
American Actor
Sure, I travel. I went to Washington to negotiate a $1 billion prepayment to Mexico on its oil revenues to help it out of its financial crisis.
Example 1 of 2
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