![]() Be sure to speak with your lender about the terms for the end of your balloon leasing agreement. Some lenders may also allow you to return the car as long as you commit to financing or leasing another vehicle through them after. Remember that balloon payment leases often come with the caveat that you must purchase the car when the lease term is up. This payment structure has potential benefits for those who can pay it, but it's essential to learn more before committing to a balloon option. ![]() If all does not go well, you may be stuck with a large amount at the end of your lease that you cannot pay. If everything goes well, a balloon payment lease can allow you to save up your money while making smaller, more manageable payments throughout the life of the lease. The balloon payment amount can be as much as half of the car's value however, this method can help you spend less during the earlier days of the loan and put off the larger costs until later. ![]() The buyer makes smaller monthly payments leading up to the final balloon payment. What Is a Balloon Payment Lease?Ī balloon loan payment lease is an agreement where the buyer agrees to make a larger-than-average payment amount at the end of the lease. With this knowledge, you can determine whether a balloon lease is a prudent option for you. What is a balloon payment lease, and what happens when you select this unique leasing payment method? Learn more about the payment process, benefits and challenges, and what happens when your balloon payment lease ends. ![]() While this method can save you money in the short term with lower monthly payments, there are some drawbacks to consider before you choose. One of these options is a balloon loan payment. When you lease a new car, you have many options for a payment method that works for you, your budget, and your lifestyle. ![]()
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