Instalment Finance is usually offered over a period of 12 to 72 months. These monthly instalments can be structured with equal amounts over the entire agreement period so that there is no balloon payment required at the end. Alternatively, if you’d prefer a shorter finance period, you can either increase your monthly instalments, pay a deposit, or arrange for a final balloon payment.
A final balloon payment is a larger payment at the end of your vehicle finance agreement, which can help in lowering your monthly repayments upfront. Under Instalment Finance, you will own the vehicle at the end of the agreement once all outstanding amounts, including the balloon payment, if applicable, have been paid.