How much is down payment when buying Mahindra Thar car?
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| Mahindra Thar Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Mahindra Thar AX 4-STR Convertible Diesel MT | ₹ 12,98,000 | ₹ 1,94,700 |
| Mahindra Thar AX 4-STR Convertible Petrol MT | ₹ 12,78,000 | ₹ 1,91,700 |
| Mahindra Thar AX 4-STR Hard Top Diesel MT | ₹ 13,08,000 | ₹ 1,96,200 |
| Mahindra Thar LX 4-STR Convertible Diesel AT | ₹ 14,98,000 | ₹ 2,24,700 |
| Mahindra Thar LX 4-STR Convertible Diesel MT | ₹ 13,58,000 | ₹ 2,03,700 |
| Mahindra Thar LX 4-STR Convertible Petrol AT | ₹ 14,78,000 | ₹ 2,21,700 |
| Mahindra Thar LX 4-STR Hard Top Diesel AT | ₹ 15,08,000 | ₹ 2,26,200 |
| Mahindra Thar LX 4-STR Hard Top Diesel MT | ₹ 13,68,000 | ₹ 2,05,200 |
| Mahindra Thar LX 4-STR Hard Top Petrol AT | ₹ 14,88,000 | ₹ 2,23,200 |
| Mahindra Thar LX 4-STR Hard Top Petrol MT | ₹ 13,38,000 | ₹ 2,00,700 |
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.