Car Loans with Balloon Payment?

[Martin_M]

I'm looking at second hand car options but at the price I'm looking at, a 'normal' 3-5 year loan is too expensive per month. I was wondering if there are reputable loan providers out there which allow a final balloon payment to be made at the end of the agreement so as to reduce my monthly payments?

Thanks in advance.

Martin

[Jasandjules]

Lease or buy a cheaper car?

[Simpo Two]

If you can't afford the monthly repayments how do you plan to afford the massive balloon payment?

[Froomee]

Simpo Two said:

If you can't afford the monthly repayments how do you plan to afford the massive balloon payment?

I'd agree with this to be honest although some car loan providers do this I think Santander/Black Horse finance may

[Mobile Chicane]

Froomee said:

Simpo Two said:

If you can't afford the monthly repayments how do you plan to afford the massive balloon payment?

I'd agree with this to be honest although some car loan providers do this I think Santander/Black Horse finance may

Some lenders may re-finance the balloon, although don't hold your breath.

Personal Contract Plan finance isn't referred to in the trade as a Perpetual Car Prison for nothing.

[rfoster]

Depends on the age of the car - if it's up to 5 years old at the beginning then I can do a PCP with final balloon (pm me for details if you'd like a specific quote.) Cheers, Richard