Balloon Payment Option

With a Balloon payment option you can buy a vehicle and pay for it monthly, over a set period of time (e.g. 60 months) at a fixed or variable interest rate. Your monthly instalments will be lower with this plan, but you will have to make a Balloon payment at the end of the payment term. The Balloon payment amount is determined by the vehicle’s age and the period over which the payment is scheduled. At the end of the term you can refinance the Balloon payment amount, trade-in or sell your vehicle privately, or settle the Balloon payment.