balloon payment
Although it is important to shop around for the most favourable financing package, all banks take the same factors into account, with their finance products being fairly similar. In many instances, it boils down to which financing institution is easier
Remember, while your residual payment is used to reduce your monthly repayments, it still forms part of your loan agreement. So, if you want to pay off your vehicle quicker, the settlement agreement will include the residual amount.
