How much is down payment when buying Nissan Magnite car?
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| Nissan Magnite Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Nissan Magnite XE MT | ₹ 5,59,000 | ₹ 83,850 |
| Nissan Magnite XL MT | ₹ 6,32,000 | ₹ 94,800 |
| Nissan Magnite XL Turbo 1.0 MT | ₹ 7,49,000 | ₹ 1,12,350 |
| Nissan Magnite XL Turbo 1.0 CVT | ₹ 8,39,000 | ₹ 1,25,850 |
| Nissan Magnite XV MT | ₹ 6,99,000 | ₹ 1,04,850 |
| Nissan Magnite XV Turbo 1.0 MT | ₹ 8,09,000 | ₹ 1,21,350 |
| Nissan Magnite XV Turbo 1.0 CVT | ₹ 8,99,000 | ₹ 1,34,850 |
| Nissan Magnite XV Premium MT | ₹ 7,68,000 | ₹ 1,15,200 |
| Nissan Magnite XV Premium Turbo 1.0 MT | ₹ 8,89,000 | ₹ 1,33,350 |
| Nissan Magnite XV Premium Turbo 1.0 CVT | ₹ 9,74,000 | ₹ 1,46,100 |
| Nissan Magnite XV Dual Tone | ₹ 6,82,000 | ₹ 1,02,300 |
| Nissan Magnite XV Premium Dual Tone | ₹ 7,69,000 | ₹ 1,15,350 |
| Nissan Magnite XV Premium Turbo | ₹ 8,45,000 | ₹ 1,26,750 |
| Nissan Magnite XV Premium Turbo (O) | ₹ 8,55,000 | ₹ 1,28,250 |
| Nissan Magnite XV Premium Turbo (O) Dual Tone | ₹ 8,69,000 | ₹ 1,30,350 |
| Nissan Magnite XV Premium Turbo CVT (O) Dual Tone | ₹ 9,59,000 | ₹ 1,43,850 |
| Nissan Magnite XV Premium Turbo CVT Dual Tone | ₹ 9,49,000 | ₹ 1,42,350 |
| Nissan Magnite XV Premium Turbo Dual Tone | ₹ 8,59,000 | ₹ 1,28,850 |
| Nissan Magnite XV Turbo CVT Dual Tone | ₹ 8,72,000 | ₹ 1,30,800 |
| Nissan Magnite XV Turbo Dual Tone | ₹ 7,82,000 | ₹ 1,17,300 |
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.