How much is down payment when buying Maruti Wagon R car?
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| Maruti Wagon R Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Maruti Wagon R VXi 1.2 | ₹ 5,48,500 | ₹ 82,275 |
| Maruti Wagon R VXi 1.2 AMT | ₹ 5,98,500 | ₹ 89,775 |
| Maruti Wagon R ZXi 1.2 | ₹ 5,83,000 | ₹ 87,450 |
| Maruti Wagon R ZXi 1.2 AMT | ₹ 6,33,000 | ₹ 94,950 |
| Maruti Wagon R LXi 1.0 | ₹ 4,80,500 | ₹ 72,075 |
| Maruti Wagon R LXi (O) 1.0 | ₹ 4,87,500 | ₹ 73,125 |
| Maruti Wagon R VXi 1.0 | ₹ 5,13,000 | ₹ 76,950 |
| Maruti Wagon R VXi (O) 1.0 | ₹ 5,20,000 | ₹ 78,000 |
| Maruti Wagon R LXi 1.0 CNG | ₹ 5,70,500 | ₹ 85,575 |
| Maruti Wagon R VXi (O) 1.2 | ₹ 5,55,500 | ₹ 83,325 |
| Maruti Wagon R LXi (O) 1.0 CNG | ₹ 5,77,500 | ₹ 86,625 |
| Maruti Wagon R VXi 1.0 AMT | ₹ 5,63,000 | ₹ 84,450 |
| Maruti Wagon R VXi (O) 1.0 AMT | ₹ 5,70,000 | ₹ 85,500 |
| Maruti Wagon R VXI 1.0 CNG | ₹ 6,86,000 | ₹ 1,02,900 |
| Maruti Wagon R ZXI Plus 1.2 AGS | ₹ 7,07,000 | ₹ 1,06,050 |
| Maruti Wagon R ZXI Plus 1.2 | ₹ 6,57,000 | ₹ 98,550 |
| Maruti Wagon R ZXI Plus 1.2 Dual Tone | ₹ 6,69,000 | ₹ 1,00,350 |
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.