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asked about Buy Car

almost 4 years ago

What is balloon scheme?

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How can we assist you?

1 Answer

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Teresa

The Balloon Scheme is actually a loan option that helps a potential car buyer reduce initial down payment. It can go as low as 20%! However, it also means that by the 7th year, your PARF value will wiped out, which you may have to potentially pay in cash. Another thing to note will be that usually, under the Balloon Scheme, interest rates will be higher.

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almost 4 years ago