How much is down payment when buying MG Hector car?
Ask your questions through Vicky.in FAQs page. Find out the answers for all questions of MG Hector Cars. Clarify all doubts for all Cars through FAQs page. Ask question not only for Cars but also regarding the website and get all the details.
| MG Hector Variants | Exshowroom Price | Down Payment |
|---|---|---|
| MG Hector Style 1.5 Petrol Turbo MT | ₹ 14,72,800 | ₹ 2,20,920 |
| MG Hector Shine 1.5 Petrol Turbo MT | ₹ 15,98,800 | ₹ 2,39,820 |
| MG Hector Shine 1.5 Petrol Turbo CVT | ₹ 17,18,800 | ₹ 2,57,820 |
| MG Hector Shine 2.0 Diesel Turbo MT | ₹ 17,98,800 | ₹ 2,69,820 |
| MG Hector Savvy Pro 1.5 Turbo CVT | ₹ 21,72,800 | ₹ 3,25,920 |
| MG Hector Savvy Pro 1.5 Turbo CVT Dual Tone | ₹ 21,92,800 | ₹ 3,28,920 |
| MG Hector Sharp Pro 1.5 Turbo CVT | ₹ 20,77,800 | ₹ 3,11,670 |
| MG Hector Sharp Pro 1.5 Turbo CVT Dual Tone | ₹ 20,97,800 | ₹ 3,14,670 |
| MG Hector Sharp Pro 1.5 Turbo MT | ₹ 19,44,800 | ₹ 2,91,720 |
| MG Hector Sharp Pro 1.5 Turbo MT Dual Tone | ₹ 19,64,800 | ₹ 2,94,720 |
| MG Hector Sharp Pro 2.0 Turbo Diesel MT | ₹ 21,50,800 | ₹ 3,22,620 |
| MG Hector Sharp Pro 2.0 Turbo Diesel MT Dual Tone | ₹ 21,70,800 | ₹ 3,25,620 |
| MG Hector Smart 1.5 Turbo CVT | ₹ 17,98,800 | ₹ 2,69,820 |
| MG Hector Smart 1.5 Turbo MT | ₹ 16,79,800 | ₹ 2,51,970 |
| MG Hector Smart 2.0 Turbo Diesel MT | ₹ 18,99,800 | ₹ 2,84,970 |
| MG Hector Smart EX CVT | ₹ 17,99,000 | ₹ 2,69,850 |
| MG Hector Smart EX MT | ₹ 16,80,000 | ₹ 2,52,000 |
| MG Hector Smart Pro 1.5 Turbo MT | ₹ 17,98,800 | ₹ 2,69,820 |
| MG Hector Smart Pro 2.0 Turbo Diesel MT | ₹ 19,99,800 | ₹ 2,99,970 |
| MG Hector Smart Pro 2.0 Turbo Diesel MT Dual Tone | ₹ 20,19,800 | ₹ 3,02,970 |
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.