Phrasal Verb - Paying Down
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.Definition
To pay down is a phrasal verb used to describe the act of reducing the amount of a loan or debt by making payments directly against the principal balance, rather than just paying the interest. It is often used in the context of mortgages, credit cards, and other types of loans, where the borrower can make extra payments to pay off the loan faster.
Examples
| No. | Example |
|---|---|
| 1 | The couple decided to pay down their mortgage to avoid owing money when their child goes to college. |
| 2 | After the new tax law was passed, John and his wife started paying down their debts to save more money. |
| 3 | Instead of investing their savings, the couple preferred to pay down their car loan to drive a new car sooner. |
| 4 | She paid down her credit card balance quickly after realizing she had overspent over the holidays. |
| 5 | Their financial advisor advised them to pay down their low-interest loan to avoid paying more interest over time. |
| 6 | The newlyweds paid down their combined debt by negotiating lower interest rates and monthly payments. |
| 7 | Because of the uncertain job market, Rachel decided to pay down her student loans to secure her financial future. |
| 8 | Paying down the principal balance of her car loan instead of just the interest saved Sarah hundreds of dollars in the long run. |
| 9 | The tech entrepreneur paid down his business loan after securing his first major investment from a venture capital firm. |
| 10 | Instead of buying a new house, they opted to pay down the remaining mortgage on their existing home to avoid extra property taxes. |
