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.
The Japanese brand is also continuing its Personal Contract Plan offers on the Alto until the year end, meaning the SZ is available for a deposit of PS799 followed by 41 monthly payments of PS99, with the option of a final balloon payment of PS2,352 to keep the car.
They are standard package and balloon payment package.
It means an Alto SZ2 at pounds 6,666 is available for a deposit of pounds 1,406 followed by 42 monthly payments of pounds 99 with the option to pay a final balloon payment of pounds 2,468 at the end of the agreement to keep the car.
Taking an Alto at pounds 6,665 as an example, a deposit of pounds 465 is required to drive away followed by 36 monthly payments of pounds 150 and an optional balloon payment of pounds 2,380 to keep the car at the end of the term.
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.
At the end of the contract, this final balloon payment is made and the vehicle becomes yours.
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.

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