balloon payment


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balloon payment

n.
A final loan payment that is significantly larger than the payments preceding it.

balloon payment

n
(Banking & Finance) a large payment that concludes a series of smaller payments, for example in order to repay a loan
References in periodicals archive ?
Raising the final balloon payment, but reducing the monthly payments during the usage, the new OwnersChoice with Flex shifts more of the financial obligation to the end for i3 users.
They are standard package and balloon payment package.
This is followed by 36 monthly payments of pounds 129 with an optional balloon payment of pounds 2,683 to keep the car at the end of the term.
It means an Alto SZ3 is available for a deposit of pounds 149 followed by 36 monthly payments of pounds 149 with the option to pay a final balloon payment of pounds 2,742 at the end of the agreement to keep the car.
At the end of the contract, this final balloon payment is made and the vehicle becomes yours.
Los Angeles is one of the few cities in the nation with a law on the books regarding predatory lending - usually marked by loans that have high interest rates, large monthly payments and a balloon payment at the end.
The rule clarifies that the projected value for real estate will be derived from a current appraisal adjusted for depreciation of depreciable property such as buildings and other improvements that occurs until the balloon payment is due.
If rates increase to 6% and you have a balloon payment in 20 months, you are in extremely serious trouble-especially if you live in a declining neighborhood.
The loan called for repayment in five years with amortization over 15 years and a balloon payment.
Hargraves' agreement with the mortgage company included outrageous fees and a balloon payment for the $160,000 borrowed, due in full, after five years of only paying interest.
Although the balloon payment in this transaction comes after five years, an even later balloon payment could work.
Despite this, the monthly repayments are still around the same level as competitors' PCP costs and at the end of the three years you own the car with no balloon payment.