What is Minimum down payment?
By: Sanjay Soni on 1 march 2015
Hello Sanjay Soni..
The ex showroom price of Alto ranges from 3.3 Lac to 4.0 Lac depending upon the variant choosen. The downpayment can be anything from 20 percent and above of the onroad price of car. It will also depend upon the policy and offer by the finance provider. In general a downpayment of 1 lac and above is recommendable. The more down payment you make, lesser would be the EMI and hence reduced stress in paying the same.
As you are planning to buy your Maruti Suzuki Alto 800 on finance, the terms and conditions of payment will be entirely dependent upon the financing institution and the showroom policies. In general, the customers are either supposed to make a payment of 20% or 1/3rd part of the full on road price of Maruti Alto 800 car as the minimum down payment. Therefore, the remaining payment is adjusted according to it. The installment that has to be paid is affixed in the form equal parts throughout a particular tenure. Do not here that the tenure until which you can continue this installment facility depends upon factors like your age, the nature of your job, etc. However, some showrooms and policies of the financing institutions connected with them can at times offer an optional option of paying more as the down payment so that the customers can enjoy reduced pay later on as installment.
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