How much is down payment when buying Hero Splendor iSmart BS6 Bike?
Ask your questions through Vicky.in FAQs page. Find out the answers for all questions of Hero Splendor iSmart BS6 Bikes. Clarify all doubts for all Bikes through FAQs page. Ask question not only for Bars but also regarding the website and get all the details.
| Model | Exshowroom Price | Down Payment |
|---|---|---|
| Hero Splendor Plus iSmart | ₹ 63,000 | ₹ 9,450 |
| Hero Splendor iSmart BS6 Disc | ₹ 72,350 | ₹ 10,853 |
| Hero Splendor iSmart BS6 Drum | ₹ 71,418 | ₹ 10,713 |
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.