How much is down payment when buying Toyota Yaris car?
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Toyota Yaris Variants | Exshowroom Price | Down Payment |
---|---|---|
Toyota Yaris J MT | ₹ 11,28,000 | ₹ 1,69,200 |
Toyota Yaris G MT | ₹ 11,95,000 | ₹ 1,79,250 |
Toyota Yaris G CVT OPT | ₹ 11,27,000 | ₹ 1,69,050 |
Toyota Yaris G MT OPT | ₹ 9,91,000 | ₹ 1,48,650 |
Toyota Yaris J CVT OPT | ₹ 9,87,000 | ₹ 1,48,050 |
Toyota Yaris J MT OPT | ₹ 9,17,000 | ₹ 1,37,550 |
Toyota Yaris V CVT OPT Dual Tone | ₹ 13,60,000 | ₹ 2,04,000 |
Toyota Yaris V MT OPT Dual Tone | ₹ 12,40,000 | ₹ 1,86,000 |
Toyota Yaris VX CVT | ₹ 14,61,000 | ₹ 2,19,150 |
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.