How much is down payment when buying Honda Shine Bike?
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| Model | Exshowroom Price | Down Payment |
|---|---|---|
| Honda CB Shine Self Drum Alloy | ₹ 57,779 | ₹ 8,667 |
| Honda CB Shine Self Disc Alloy | ₹ 58,158 | ₹ 8,724 |
| Honda CB Shine Self Disc CBS | ₹ 64,650 | ₹ 9,698 |
| Honda CB Shine Self Drum CBS | ₹ 59,990 | ₹ 8,999 |
| Honda CB Shine Self Disc | ₹ 60,410 | ₹ 9,062 |
| Honda CB Shine CBS BS-IV | ₹ 63,627 | ₹ 9,545 |
| Honda Shine Drum | ₹ 79,800 | ₹ 11,970 |
| Honda Shine Disc | ₹ 83,800 | ₹ 12,570 |
| Honda CB Shine Self Drum | ₹ 58,097 | ₹ 8,715 |
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.