How much is down payment when buying Hyundai Santro car?
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| Hyundai Santro Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Hyundai Santro Era Executive | ₹ 4,68,000 | ₹ 70,200 |
| Hyundai Santro Magna | ₹ 5,14,000 | ₹ 77,100 |
| Hyundai Santro Magna CNG | ₹ 5,87,000 | ₹ 88,050 |
| Hyundai Santro Magna AMT | ₹ 5,63,000 | ₹ 84,450 |
| Hyundai Santro Sportz | ₹ 5,51,000 | ₹ 82,650 |
| Hyundai Santro Sportz CNG | ₹ 6,01,000 | ₹ 90,150 |
| Hyundai Santro Sportz AMT | ₹ 5,99,000 | ₹ 89,850 |
| Hyundai Santro Asta | ₹ 5,89,000 | ₹ 88,350 |
| Hyundai Santro Asta AMT | ₹ 6,36,000 | ₹ 95,400 |
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.