Balloon Payment Related Topics 
Car Examer
NOVEMBER 2, 2024
With PCP, you pay lower monthly payments because a large portion of the car’s cost is deferred until the end of the agreement. At the end, you can choose to make a final payment (called a “balloon payment”) to buy the car, trade it in, or return it. It’s often called the balloon payment.
Auto Express
DECEMBER 7, 2021
If youve ever taken out a PCP car finance deal, you may have heard of a balloon payment. If youre unsure exactly what it is, were here to help.
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Car Examer
DECEMBER 3, 2024
Vague or Misleading Terms: Key details like balloon payments, mileage limits, or early termination fees aren’t explained properly. Important Terms Were Glossed Over Did the dealer clearly explain things like mileage restrictions, balloon payments, or what happens if you want to end the deal early?
CarExpert
JUNE 18, 2024
At the end of your lease period, you have the option of paying a balloon payment on the vehicle (that is the cost of the vehicle depreciated in alignment with the government schedule), refinancing the vehicle to continue paying a monthly rate or, in some circumstances, just handing the car back. And in some cases that works.
CarExpert
SEPTEMBER 27, 2024
Once you reach the end of the period, you can either pay the residual or balloon payment – which on a five-year lease is about 28 per cent of the vehicle price – and keep the car. Lease periods are typically between one and five years and have a predetermined expected annual mileage.
Drive.com
FEBRUARY 28, 2024
A chart shown on the Toyota Australia pricing configurator notes the vehicle rental payment for the South Melbourne (3205) example as 80.36 per cent of the total lease payment, making the $1473.80 per cent interest with a 40 per cent ($28,800) balloon payment would cost approximately the same, at $1480 per month.
Car Examer
JUNE 20, 2024
PCP vs. Leasing PCP (Personal Contract Purchase) Lower Monthly Payments : PCP generally has lower monthly payments compared to HP. Balloon Payment : At the end of a PCP agreement, you have the option to make a balloon payment to own the car or return it.
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