answersLogoWhite

0

Down payments are meant to protect businesses and companies from people who neglect to complete their payments on large purchases. In the event a person making payments defaults or refuses to pay, the down payment ensures the company has not lost all of the money the item being paid for was worth.

User Avatar

Wiki User

12y ago

What else can I help you with?

Related Questions

What was the purpose of making both small and large states happy?

the purpose was to make a better life and to ease down on payment and other expensis


How can I use a line of credit for a down payment on a home?

You can use a line of credit for a down payment on a home by borrowing money from the line of credit and using it towards the down payment. However, it's important to consider the terms of the line of credit, interest rates, and repayment plan before using it for this purpose.


How can I use a line of credit for a down payment on a new home?

You can use a line of credit for a down payment on a new home by withdrawing funds from the line of credit and using them towards the down payment. However, it's important to consider the interest rates and repayment terms of the line of credit before using it for this purpose.


What is the minimum down payment required for a car purchase with a 50 down payment?

The minimum down payment required for a car purchase with a 50 down payment is 50 of the total cost of the car.


What is the down payment on a bugatti?

A down payment for select buyers is $360,000


What is the duration of No Down Payment?

The duration of No Down Payment is 1.75 hours.


How does the down payment affect the monthly payment amount when purchasing a car?

The down payment on a car reduces the amount of money you need to borrow, which can lower your monthly payment amount. A larger down payment typically results in a smaller monthly payment, while a smaller down payment usually leads to a higher monthly payment.


Can I get a new construction loan using a home deed as down payment?

You can get a 2d for any purpose you like, but title will not be clear for as long as it exists.


What does a down payment really mean, and how does it work?

A down payment is a portion of a home's selling price which must be paid up-front, in cash, separate from the amount you'll be receiving as a down payment loan. The down payment can be almost any amount, although typically they range between 5%-20% of the home's total value. The purpose of a down payment is primarily to provide security to the seller and to the lender. If someone puts down a substantial amount of money up-front, they're less likely to default on the loan - which is costly for everyone involved. Also, the down payment demonstrates a basic ability to pay, reassuring the seller. For more information and to learn more about down payment loans and solutions, please contact Home Savings Fund today.


When was No Down Payment created?

No Down Payment was created on 1957-10-30.


When you put a down payment on a car do dealers come down on price?

When you put down a down payment the price is already set. You must get them to come down before you agree to purchase which is what your down payment represents.


How do you write a letter for payment?

When writing a letter for payment, the date and amount of payment should be included in the letter. The purpose of the payment should also be included in a payment letter.