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Balloon Payments

Balloon Payments are a flexible way to purchase newer vehicles where the initial deposit and repayment period can be calculated to meet your needs and budget. It is a Consumer Hire Purchase Agreement consisting of 24 / 36 / 48 monthly payments followed by a final payment. It is a PCP type product where the Customer is solely responsible for the final payment / balloon.

A decrease in your monthly payments: The main benefits of this products are the lower repayments with the agreement.

The monthly payment should be enough to match depreciation of the Asset during the term

  • Creates options for the customer
  • Final payment should be structured to ensure the customer has equity in the next deal
  • Only suitable for certain customers
  • This Product only applies to vehicles with 191, 182, 181 and 172 registrations only. (Last 4 registration periods) 

Terms: A deposit is required - typically ranging from 10% to 30%. The Final Payment will be calculated to best ensure that there is sufficient equity in the vehicle when you upgrade in 3 to 4 years times. There are no wear and tear or mileage clauses applicable thus giving you total flexibility. This product is available on brand new cars and on used cars up to 18 months old or four registration periods.

You have 3 options at the end of the Agreement :

  1. Keep vehicle and pay the Final Payment amount 
  2.  Keep vehicle and refinance the Final Payment amount over a further 24 or 36 months at the prevailing interest rate
  3.  Trade in vehicle, use equity to buy again

Flexibility : Similar to popular PCP products, Balloon Payments present you with more affordable monthly repayments while offering you options at the end of the agreement.


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