How much is down payment when buying Tata Altroz car?
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| Tata Altroz Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Tata Altroz XZ Diesel | ₹ 8,79,000 | ₹ 1,31,850 |
| Tata Altroz XE Petrol | ₹ 5,69,500 | ₹ 85,425 |
| Tata Altroz XM Petrol | ₹ 6,30,500 | ₹ 94,575 |
| Tata Altroz XT Petrol | ₹ 7,13,500 | ₹ 1,07,025 |
| Tata Altroz XE Diesel | ₹ 6,99,500 | ₹ 1,04,925 |
| Tata Altroz XM Diesel | ₹ 7,55,500 | ₹ 1,13,325 |
| Tata Altroz XT Diesel | ₹ 8,28,500 | ₹ 1,24,275 |
| Tata Altroz XE Rhytm Petrol | ₹ 5,94,500 | ₹ 89,175 |
| Tata Altroz XE Rhytm Diesel | ₹ 7,27,000 | ₹ 1,09,050 |
| Tata Altroz XM Petrol Plus | ₹ 6,61,000 | ₹ 99,150 |
| Tata Altroz XT i-Turbo Petrol | ₹ 7,74,000 | ₹ 1,16,100 |
| Tata Altroz XZ i-Turbo Petrol | ₹ 8,46,000 | ₹ 1,26,900 |
| Tata Altroz XZ Plus Diesel | ₹ 9,46,000 | ₹ 1,41,900 |
| Tata Altroz XZ Plus i-Turbo Petrol | ₹ 8,86,000 | ₹ 1,32,900 |
| Tata Altroz XZ Plus Petrol | ₹ 8,26,000 | ₹ 1,23,900 |
| Tata Altroz XE Plus Petrol | ₹ 6,60,000 | ₹ 99,000 |
| Tata Altroz XZA Plus Petrol | ₹ 9,80,000 | ₹ 1,47,000 |
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.