Tag: Car purchase
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What is a balloon payment on a car loan and how does it work in Australia?
A balloon payment is a lump sum payment made at the end of a car loan term that is larger than the regular loan repayment amount. In Australia, balloon payments are a popular option for car buyers who want to lower their regular repayments and have flexibility at the end of their loan term.…
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What is a car loan and how does it work?
A car loan is a type of loan that is designed to help people purchase a car. In Australia, car loans are available from banks, credit unions, and other lenders. The borrower can use the loan to buy a new or used car, and then repay the loan over time with interest. When you apply…