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Token Amount is the booking amount or commitment amount paid by a buyer on Droom’s online platform to commit for a listing. The final selling price of a listing combines token amount and final value payment. The token amount is paid online on Droom and final value payment is paid directly to the seller. Token amount may vary depending upon the type of category and it is fully (100%) refundable and covered under Droom’s Buyer Protection if the transaction a does not close.
For Vehicles - It is 2% - 3% of the final selling price; paid via Droom, and remaining 98% - 97% is paid directly to the seller during transaction closure.
For Mobile Phones – It is 20% of the final selling price that buyer pays online via Droom, and rest 80% is directly paid to the seller while closing the transaction.
To know more click Token Amount by category
For Example, if you buy a Car for ₹3,00,000 and Pay ₹7,500 (2.5% of Selling Price) as Token Amount, then buyer pays the remaining 97.5% at the time of transaction closure.