How much is down payment when buying Maruti Ertiga car?
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| Maruti Ertiga Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Maruti Ertiga LXi | ₹ 7,81,500 | ₹ 1,17,225 |
| Maruti Ertiga VXi | ₹ 8,56,500 | ₹ 1,28,475 |
| Maruti Ertiga ZXi | ₹ 9,39,500 | ₹ 1,40,925 |
| Maruti Ertiga VXi CNG | ₹ 9,46,500 | ₹ 1,41,975 |
| Maruti Ertiga ZXi+ | ₹ 9,91,000 | ₹ 1,48,650 |
| Maruti Ertiga ZXi AT | ₹ 9,76,500 | ₹ 1,46,475 |
| Maruti Ertiga ZXI CNG | ₹ 11,54,000 | ₹ 1,73,100 |
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.