Finance car with or with out a balloon payment
Can I finance a car without paying a balloon payment? Not all car loans require a balloon payment. If you opt for Hire Purchase or Car Leasing your payments are evenly spread over the length of your contract, with no balloon payment option.
How do you get out of a balloon car payment?
Here are a few ways that you can get out of a balloon car payment:
- Sell your car and use the profit to pay off the loan.
- Pay the loan in full.
- Refinance the loan to extend your loan repayment period and even out the remaining monthly payments.