How much is down payment when buying Maruti Ignis car?
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| Maruti Ignis Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Maruti Ignis 1.2 Sigma | ₹ 5,10,000 | ₹ 76,500 |
| Maruti Ignis 1.2 Delta | ₹ 5,81,000 | ₹ 87,150 |
| Maruti Ignis 1.2 Alpha | ₹ 6,97,000 | ₹ 1,04,550 |
| Maruti Ignis 1.2 Delta AMT | ₹ 6,31,000 | ₹ 94,650 |
| Maruti Ignis 1.2 Alpha AMT | ₹ 7,47,000 | ₹ 1,12,050 |
| Maruti Ignis Alpha 1.2 AMT Dual Tone | ₹ 7,44,000 | ₹ 1,11,600 |
| Maruti Ignis Alpha 1.2 MT Dual Tone | ₹ 6,94,000 | ₹ 1,04,100 |
| Maruti Ignis Zeta 1.2 AMT | ₹ 6,54,000 | ₹ 98,100 |
| Maruti Ignis Zeta 1.2 AMT Dual Tone | ₹ 6,68,000 | ₹ 1,00,200 |
| Maruti Ignis Zeta 1.2 MT | ₹ 6,05,000 | ₹ 90,750 |
| Maruti Ignis Zeta 1.2 MT Dual Tone | ₹ 6,18,000 | ₹ 92,700 |
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.