Quote:
Originally Posted by Dattebayo
That is really the biggest downside for sure if you don't pay the balloon payment off at the end of the term. The idea is that the money that is saved via the monthly payment, you could put it towards the balloon. If you pay off the balloon at the end, the interest isn't much more than a straight finance.
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It still is at least 1-2k more. You have interest on your balloon payment accruing for 5 years with zero pay down and interest on the balance as well. If you run the numbers at best case scenario a select is 2k more expensive than a traditional finance but many times its at least 3k
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