How much is down payment when buying Hero Maestro Edge 125 Bike?
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| Model | Exshowroom Price | Down Payment |
|---|---|---|
| Hero Maestro Edge 125 Disc | ₹ 74,050 | ₹ 11,108 |
| Hero Maestro Edge 125 FI | ₹ 70,150 | ₹ 10,523 |
| Hero Maestro Edge 125 Disc BS6 | ₹ 71,450 | ₹ 10,718 |
| Hero Maestro Edge 125 Stealth Edition BS6 | ₹ 72,950 | ₹ 10,943 |
| Hero Maestro Edge 125 Drum old | ₹ 89,860 | ₹ 13,479 |
| Hero Maestro Edge 125 Drum old | ₹ 73,040 | ₹ 10,956 |
| Hero Maestro Edge 125 Disc old | ₹ 76,500 | ₹ 11,475 |
| Hero Maestro Edge 125 Connected 2021 | ₹ 79,750 | ₹ 11,963 |
| Hero Maestro Edge 125 Drum 2021 | ₹ 72,250 | ₹ 10,838 |
| Hero Maestro Edge 125 Drum | ₹ 73,040 | ₹ 10,956 |
| Hero Maestro Edge 125 Disc 2021 | ₹ 76,500 | ₹ 11,475 |
| Hero Maestro Edge 125 Connected 2021 | ₹ 79,750 | ₹ 11,963 |
| Hero Maestro Edge 125 STD | ₹ 71,850 | ₹ 10,778 |
Down Payment is nothing but a type of payment made in cash during the onset of the purchase of an expensive good/service. The payment typically represents only a percentage of the full purchase price; in some cases it is not refundable if the deal falls through. Financing arrangements are made by the purchaser to cover the remaining amount owed to the seller. Making a down payment and then paying the rest of the price through installments is a method that makes expensive assets more affordable for the typical person. For example, because houses are extremely expensive assets, home buyers typically pay down payments that equal 5-25% of the total value of a home. The remaining 75-95% of the price will be covered by a bank or other financial institutions through a mortgage loan. The main purposes of a down payment are to ensure that the lending institution has enough capital to create money for a loan in fractional reserve banking systems and to recover some of the balance due on the loan in the event that the borrower defaults.