Deposit

Can someone please explain how deposits works. 2022 sometime in December, I bought a 2016 Kia Cerato for I think 169 000 if not more.

I was then requested to pay a deposit of R 94 000 if not more. Paid the amount and thought this will somehow assist in getting installment down and finishing paying off in a short space of time.

Just checked my statement and the balance is R 90 000. Kanti how does this deposit thing work? Shouldn't me balance be extremely low especially after paying a deposit of more than 10%.