Minimum down payment
The minimum amount of down payment for the TATA magic is going to be 10% of the car’s Net ex-showroom price. (ex-showroom price – discounts).
The Tata Magic is priced between INR 4,40,000 and INR 4,90,000 so the minimum down payment will vary from INR 44,000 to INR 49,000 depending on the variant. (The down payment amount could be slightly lower if you’re offered cash discounts by the dealership)
However, to be eligible for the 10% down payment scheme, you need to fulfill the following criteria
- Have an excellent CIBIL score
- Fulfill all bank stability norms.
- Full other criteria relating to income, account relationship etc.