How much is down payment when buying Maruti Alto car?
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| Maruti Alto Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Maruti Alto STD | ₹ 2,99,800 | ₹ 44,970 |
| Maruti Alto LXi | ₹ 3,76,400 | ₹ 56,460 |
| Maruti Alto LXi CNG | ₹ 4,66,400 | ₹ 69,960 |
| Maruti Alto VXi | ₹ 4,02,600 | ₹ 60,390 |
| Maruti Alto LXi (O) | ₹ 3,80,700 | ₹ 57,105 |
| Maruti Alto STD (O) | ₹ 3,04,900 | ₹ 45,735 |
| Maruti Alto LXi (O) CNG | ₹ 4,70,700 | ₹ 70,605 |
| Maruti Alto VXi Plus | ₹ 3,89,600 | ₹ 58,440 |
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.