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it depends
Posted by markP (more from markP) on Fri, 14 Nov 2003 15:19:20
In Reply to: Ballon payments on a new 9.3SS...what?, MattinNashville, Fri, 14 Nov 2003 13:34:53
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A balloon payment is associated with a type of financing whereas you have lower monthly payments and then a large final payment (the balloon). This balloon is typically at or around what the residual would be for the lease.
The advantage to this is that you own the car from day one. This can be helpful if you want to sell it at any point (a lease is HARD to break and sometimes costly $$$) as well as for using it as collateral/equity.
I am not sure but you may actually have an option of selling the car back to the dealership at a set price in lieu of the balloon payment.
posted by 216.254.10...
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