How much is down payment when buying Hyundai Verna car?
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| Hyundai Verna Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Hyundai Verna S Plus 1.5 CRDi | ₹ 10,76,000 | ₹ 1,61,400 |
| Hyundai Verna SX 1.5 VTVT | ₹ 10,90,000 | ₹ 1,63,500 |
| Hyundai Verna SX 1.5 VTVT IVT | ₹ 12,12,000 | ₹ 1,81,800 |
| Hyundai Verna SX 1.5 CRDi | ₹ 12,16,000 | ₹ 1,82,400 |
| Hyundai Verna SX (O)1.5 VTVT | ₹ 12,76,000 | ₹ 1,91,400 |
| Hyundai Verna SX 1.5 CRDi AT | ₹ 13,31,000 | ₹ 1,99,650 |
| Hyundai Verna SX (O) 1.5 VTVT IVT | ₹ 14,01,000 | ₹ 2,10,150 |
| Hyundai Verna SX (O) 1.5 CRDi | ₹ 14,05,000 | ₹ 2,10,750 |
| Hyundai Verna SX (O) 1.0 Turbo DCT | ₹ 14,09,000 | ₹ 2,11,350 |
| Hyundai Verna E 1.5 VTVT | ₹ 9,11,000 | ₹ 1,36,650 |
| Hyundai Verna S Plus 1.5 VTVT | ₹ 9,69,000 | ₹ 1,45,350 |
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.