Jump to content

Used car finance with balloon payments


Phil330
 Share

Recommended Posts

Does anyone know of a firm that provides finance for used cars, deferring part of the loan to the end of the term? I am not fussed about it being guaranteed. I know that car dealers will offer this, but I have seen a vehicle I like for private sale. The loan amount would be c£22k.

Link to comment
Share on other sites

Does anyone know of a firm that provides finance for used cars, deferring part of the loan to the end of the term? I am not fussed about it being guaranteed. I know that car dealers will offer this, but I have seen a vehicle I like for private sale. The loan amount would be c£22k.

Fellow TSNer Gareth might be able to assist on this one with his company Bespoke Automotive Consulting. +++

Link to comment
Share on other sites

Presumably you have chosen this type of finance so that you can have a lower monthly payment, and this afford a more expensive car than would normally be the case?

That's fine, but obviously, there are some drawbacks to this type of finance:

1) The 'cost' of interest on the balloon can be quite a lot

2) You still need to fund the balloon at the end of the period if you want to own the car

3) Cancelling the contract mid-term can be extremely expensive

As above, speak to Gareth and explain what you are looking for, and I'm sure he will be able to help!

:beer:

Sidicks

Link to comment
Share on other sites

Please sign in to comment

You will be able to leave a comment after signing in



Sign In Now
 Share

×
×
  • Create New...