How much is down payment when buying Tata Tigor car?
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| Tata Tigor Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Tata Tigor XE Petrol | ₹ 5,49,500 | ₹ 82,425 |
| Tata Tigor XZ Petrol | ₹ 6,50,500 | ₹ 97,575 |
| Tata Tigor XZ+ Petrol | ₹ 7,11,500 | ₹ 1,06,725 |
| Tata Tigor XM Petrol | ₹ 6,09,500 | ₹ 91,425 |
| Tata Tigor XMA | ₹ 6,80,000 | ₹ 1,02,000 |
| Tata Tigor XZA Plus | ₹ 7,82,000 | ₹ 1,17,300 |
| Tata Tigor XZ Plus CNG | ₹ 8,50,000 | ₹ 1,27,500 |
| Tata Tigor XZ CNG | ₹ 7,90,000 | ₹ 1,18,500 |
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.