How much is down payment when buying Maruti Swift car?
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| Maruti Swift Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Maruti Swift LXi | ₹ 5,81,000 | ₹ 87,150 |
| Maruti Swift VXi | ₹ 6,51,000 | ₹ 97,650 |
| Maruti Swift ZXi | ₹ 7,14,000 | ₹ 1,07,100 |
| Maruti Swift ZXi Plus | ₹ 7,92,000 | ₹ 1,18,800 |
| Maruti Swift VXi AMT | ₹ 7,01,000 | ₹ 1,05,150 |
| Maruti Swift ZXi AMT | ₹ 7,64,000 | ₹ 1,14,600 |
| Maruti Swift Zxi Plus Dual Tone | ₹ 8,17,000 | ₹ 1,22,550 |
| Maruti Swift Zxi Plus AMT Dual Tone | ₹ 8,67,000 | ₹ 1,30,050 |
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.