How much is down payment when buying Kia Sonet car?
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| Kia Sonet Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Kia Sonet HTE 1.2 | ₹ 6,71,000 | ₹ 1,00,650 |
| Kia Sonet HTK 1.2 | ₹ 7,59,000 | ₹ 1,13,850 |
| Kia Sonet HTE 1.5 | ₹ 8,05,000 | ₹ 1,20,750 |
| Kia Sonet HTK Plus 1.2 | ₹ 8,44,999 | ₹ 1,26,750 |
| Kia Sonet HTK 1.5 | ₹ 8,99,000 | ₹ 1,34,850 |
| Kia Sonet HTK Plus 1.5 | ₹ 9,49,000 | ₹ 1,42,350 |
| Kia Sonet HTK Plus 1.0 iMT | ₹ 9,49,000 | ₹ 1,42,350 |
| Kia Sonet HTX 1.0 iMT | ₹ 9,99,000 | ₹ 1,49,850 |
| Kia Sonet HTX 1.5 | ₹ 9,99,000 | ₹ 1,49,850 |
| Kia Sonet HTX Plus 1.0 iMT | ₹ 11,65,000 | ₹ 1,74,750 |
| Kia Sonet HTX Plus 1.5 | ₹ 11,65,000 | ₹ 1,74,750 |
| Kia Sonet GTX Plus 1.0 iMT | ₹ 11,99,000 | ₹ 1,79,850 |
| Kia Sonet GTX Plus 1.0 DCT | ₹ 12,90,000 | ₹ 1,93,500 |
| Kia Sonet GTX Plus 1.0 DCT Dual Tone | ₹ 13,00,000 | ₹ 1,95,000 |
| Kia Sonet GTX Plus 1.0 iMT Dual Tone | ₹ 12,10,000 | ₹ 1,81,500 |
| Kia Sonet GTX Plus 1.5 AT | ₹ 13,10,000 | ₹ 1,96,500 |
| Kia Sonet GTX Plus 1.5 AT Dual Tone | ₹ 13,20,000 | ₹ 1,98,000 |
| Kia Sonet GTX Plus 1.5 Dual Tone | ₹ 12,30,000 | ₹ 1,84,500 |
| Kia Sonet HTX Plus 1.5 Dual Tone | ₹ 11,96,000 | ₹ 1,79,400 |
| Kia Sonet HTX 1.0 DCT | ₹ 11,07,000 | ₹ 1,66,050 |
| Kia Sonet HTX 1.5 AT | ₹ 11,45,000 | ₹ 1,71,750 |
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.