How much is down payment when buying Mercedes Benz E-class car?
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| Mercedes Benz E-class Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Mercedes Benz E-class 280 Elegance | ₹ 47,14,000 | ₹ 7,07,100 |
| Mercedes Benz E-class 280 CDI Elegance | ₹ 47,14,000 | ₹ 7,07,100 |
| Mercedes Benz E-class E350 | ₹ 46,98,000 | ₹ 7,04,700 |
| Mercedes Benz E-class E250 | ₹ 41,13,000 | ₹ 6,16,950 |
| Mercedes Benz E-class E250 CDI BlueEFFICIENCY | ₹ 39,87,000 | ₹ 5,98,050 |
| Mercedes Benz E-class E350 CDI BlueEFFICIENCY | ₹ 48,08,000 | ₹ 7,21,200 |
| Mercedes Benz E-class 2013 E 200 | ₹ 44,75,000 | ₹ 6,71,250 |
| Mercedes Benz E-class E 250 CDI Avantgrade | ₹ 46,90,000 | ₹ 7,03,500 |
| Mercedes Benz E-class 2013 E 250 CDI Launch Edition | ₹ 49,90,000 | ₹ 7,48,500 |
| Mercedes Benz E-class E63 AMG | ₹ 1,29,00,000 | ₹ 19,35,000 |
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.