If you’ve ever thought of buying a car beyond your budget, you are not alone. Balloon payments make getting your desired vehicle possible through their unique repayment method.
A balloon payment or a residual value payment is the lump sum you agree upon, to pay back to a lender at the end of a loan term. The payment method ensures reduced payments throughout the loan term with the balloon amount paid as lump sum at the end. The lump sum amount is calculated depending on the asset’s depreciated value. Compared to most other loan repayment options, the monthly repayment amount is much smaller in balloon finance. This allows you the perfect opportunity to upgrade to a better vehicle by taking a larger loan.
Whether you intend to purchase a business car or a personal one, balloon payments offer a convenient repayment method, specifically for those who cannot afford to pay a large sum every month throughout the loan duration.
There are a number of ways to go about repaying the residual amount at the end of the loan term.
Balloon Finance with Car Finance 4 You
Balloon finance offers more flexibility than most other loans, making it a viable option for those with limited incomes. You can check the potential lump sum amount in your case by using a balloon car loan calculator or contacting one of our representatives to better understand your options.
The maximum amount of residual payment varies for each individual due to the multiple determining factors that include the loan term, how old the vehicle is, the financial profile of the borrower, and the type of loan opted for.
The only way to extend the due date on your balloon payment is to refinance it to a new loan or refinance the existing amount to a longer loan term than before.
I’d like to thank Cathy, Peter and the team at Car Finance 4 You for the exceptional services they provided. Their speedy turnaround, helpful advice and assistance along the way was second to none. This is the second time I’ve dealt with Car Finance 4 You and each time has been an absolute pleasure. I can’t recommend them highly enough. Thanks again.
Hi Peter, just wanted to give you some feedback on our dealings with David Dent. We were very happy with him keeping us up to date with the process and if he said he would get back to us, he actually did and was able to answer all our questions. We would have no hesitation in using this service in the future or recommending friends and family. Thank you.
Cathy, I would like to thank you and the rest of the team at Car Finance 4 You for your help with our loan application. A couple of phone calls with the information needed, the forms were then brought to us for signing and 24 hours later we were proceeding with our vehicle purchase. Exceptional service from everybody. Thanks again.
Thank you so much to Cath, Peter and all the crew at Car Finance 4 You. The service you provided was second to none. The time that you took to ensure that everything was covered before we came in to finalise the loan for our great new car was a massive time saver. We fully recommend you and will be back when it is time for our next car.
I have been dealing with Peter since 2006. I had given up on ever getting a new car due to poor financial history. Peter, Cath and the team are amazing. They not only organised finance for my car in 2006, they have also been instrumental in their financial advice and assistance in purchasing another car this year. They are prompt, informative and very friendly.
We were wanting to purchase a new family car but struggled to find a lender that would help us due to past financial issues. Peter and Melanie not only helped us get a new car, but went above and beyond what I expected. They were in constant communication with us about our application, dropped paperwork off to our home and found us the car we wanted at a great price.
I would like to thank Cathy and the team at “Car Finance 4 You”; they could not have been more helpful. Not only did they organise my finance, they had insurance and warranty quotes ready for me once my pre-approval was completed. They also found the time to bring the paper work to me which was great. Their great customer service and friendly manner was very pleasing to work with. Very happy customer.
I have been dealing with Peter for more than 15 years. During my most recent experience in purchasing a new family car, I was pressured by the car dealership to take out finance with them. Despite telling me there would be no problem with arranging the finance, by the time my new car was ready to be picked up, the finance was still up in the air.
We have been dealing with Peter and his team since 1997 and have financed all our personal and work vehicles with him during that time. More recently we approached him to finance some specialised equipment which was necessary for our plumbing business.
Personal Car Loans?
Business Car Loans?
Or
Bad Credit Loans?
Car Loan Calculator 
