Car Loans with Balloon Payment

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If you want a car loan but want to keep the monthly repayments to a minimum, you may want to think about car loans with balloon payment. A balloon payment is a large lump sum that is made at the end of the car loan agreement, keeping the monthly repayments to a minimum. Car loans with balloon payment are suitable for people who:

  • Are expecting a financial windfall i.e. tax refund, inheritance, dividend
  • Are good at investing, and can take advantage of the loan type to save money

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Benefits of car loans with balloon payment include

  • The deposit required is generally a lot lower
  • Low interest rate
  • Low monthly payments

However, car loans with balloon payment are not for everyone – if you do not have the money to pay off the loan at the end of the agreement and/or are not good at putting money aside to pay the final lump sum, you could end up in financial difficulties, so it can be a risky way to borrow.

LenderMin - Max LoanCredit HistoryRepresentative APRTermApply
£1,500 - £50,000Good to Poor Credit19.1%2 to 5 YearsGet Quotes >
Take charge of your car finance with Zuto. Loans of £1,500 - £50,000 for 2-5 years. Representative Example: The Representative APR is 19.1% (fixed) so if you borrow £7,500 over 49 months at a rate of 19.1% p.a. (fixed) you will repay £218.78 per month and repay £10,501.26 in total. b>

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.