How much is down payment when buying Tata Punch car?
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| Tata Punch Variants | Exshowroom Price | Down Payment |
|---|---|---|
| Tata Punch Pure MT | ₹ 5,49,000 | ₹ 82,350 |
| Tata Punch Pure Rhythm Pack | ₹ 5,84,000 | ₹ 87,600 |
| Tata Punch Adventure MT | ₹ 6,39,000 | ₹ 95,850 |
| Tata Punch Adventure Rhythm Pack | ₹ 6,74,000 | ₹ 1,01,100 |
| Tata Punch Adventure AMT | ₹ 6,99,000 | ₹ 1,04,850 |
| Tata Punch Accomplished MT | ₹ 7,29,000 | ₹ 1,09,350 |
| Tata Punch Adventure Rhythm Pack AMT | ₹ 7,34,000 | ₹ 1,10,100 |
| Tata Punch Accomplished Dazzle Pack | ₹ 7,74,000 | ₹ 1,16,100 |
| Tata Punch Accomplished AMT | ₹ 7,89,000 | ₹ 1,18,350 |
| Tata Punch Accomplished Dazzle Pack AMT | ₹ 8,34,000 | ₹ 1,25,100 |
| Tata Punch Creative MT | ₹ 8,49,000 | ₹ 1,27,350 |
| Tata Punch Creative iRA Pack | ₹ 8,79,000 | ₹ 1,31,850 |
| Tata Punch Creative AMT | ₹ 9,09,000 | ₹ 1,36,350 |
| Tata Punch Creative iRA Pack AMT | ₹ 9,39,000 | ₹ 1,40,850 |
| Tata Punch Camo Adventure | ₹ 6,84,900 | ₹ 1,02,735 |
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.