Home » BALLOON PAYMENT REFINANCING
ReFinance | Balloon Payment Finance
Balloon Payment Refinancing
Balloon/Residual payment loans are structured to reduce monthly payments on your vehicle by shifting a significant portion of your loan to one final payment at the end of your payment term. Whichever way you look at it, you are still held accountable for the Residual/Balloon payment that is due.
If we work off a R200,000 car with a 35% balloon payment, the amount owed at the end of the term will be R70,000. Based on these basic sums, unfortunately the majority of us will not have that amount of money saved up in anticipation for the day that we need to settle our Residual/Balloon payments.
For those of you in this predicament, there is light at the end of the tunnel.
With the help of ReFinance Financial Services there are now 2 options available to customers:
Option 1: If you are at the end of your term and the Residual/Balloon payment is owed, ReFinance Financial Services are able to finance this amount for you at a preferential interest rate and favourable terms.
Option 2: If you are not at the end of your term, then this is the preferable option to go with. ReFinance Financial Services will refinance your vehicle (including the balloon payment). This only would add a small amount extra per month to your current instalment, but it would completely eliminate the burden of having to settle the Residual/Balloon lump sum at the end of your term.
For more information on how you can start saving today please contact ReFinance Financial Services on 012 111 0033 or complete our contact form below and we will call you back.
REFIN TO 35180