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    If you want to buy a car, truck or motorbike, but you can’t quite afford the full loan repayments right now, you might want to consider a balloon payment.

    A balloon payment car loan allows you to make smaller monthly repayments for the life of the loan.

    “What’s the catch?” you ask.

    Well, in return for making those smaller monthly repayments, you’ll have to make an additional one-off payment at the end of the loan. This is known as the balloon payment.

    Also, you’ll generally pay more interest over the life of the loan with a balloon payment car loan than with a standard car loan.

    So the trade-off is this:

    Standard car loan – pay more per month but less over the life of the loan

    Balloon payment car loan – pay less per month but more over the life of the loan

    Calculate your loan repayments
    Loan Amount $
    Loan Term Years
    Interest p.a. %
    Repayment Frequency
    Loan Repay Type
    Balloon Payment
    Balloon Payment

    Estimated repayment
    Balloon payment

    What’s next? Request a call to confirm your quote.

    Disclaimer: The calculator is provided only as a general self-help planning tool. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances.
    • First Name*

    • Last Name

    • Credit Status*

    • Amount Required*

    • Mobile No.*

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    The calculator is provided only as a general self-help planning tool. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances.

    What our customers say 700+ Google Reviews

    Fantastic experience with Aaron from National Finance. Our car loan was approved and settled within 3 days. I was able to contact Aaron direct and he provided fast and reliable guidance and service. He also set up our insurance for the new vehicle as an added bonus. Would highly recommend

    Lily Mackenzie

    Charles was absolutely brilliant, would not recommend anyone better to do business with. Will soon be on the way to pick up my dream car! If you’re looking at a loan for anything, ask for Charles. Best service IO have ever received.

    Ben Cotter

    Ray’s a superstar when it comes to car loans, got it done for us within 2 days and with no hassle. He knows his way around the process with multiple options offered to us and highly recommend his service to anyone looking for a quick and positive outcome on a car loan.
    Masi Fanene-Tariu
    Masi Fanene-Tariu
    02:45 19 May 22
    Joshua Kleve
    Joshua Kleve
    04:51 17 May 22
    I came across National Loans via google search. Charles is amazing, he went above and beyond to answer all my questions and find me the best finance plan that was right for me. I will definitely recommend National Loans to others as it is very rare to find a service provider that have customers’ interest at heart and that patient to take all the time explain to ensure we both on the same and the finance plan that is right and suited to my finance situation.
    K Kam
    K Kam
    11:21 16 May 22
    I dealt with Salah from national loans. It was a disaster from the start but not from Salah’s side but from mine. We found so many vans that we thought were the one but they were all rubbish. Salah was most helpful and understanding even to a point where he was protecting our interests so we did not get ripped off. There were a few hiccups with the process but nothing that couldn’t be overcome with some communication. I would highly recommend Salah for any of your fiancé needs. Finally Proud owner of a jayco silverline
    Tony Filipovic
    Tony Filipovic
    04:45 15 May 22
    Job well done! Highly recommended as they got me the best rates, almost at half a big bank would offer and importantly a positive result seamlessly.Phila was a great broker to work with and his knowledge about the market and lending policies.Pleasant experience too and never felt pressured or rushed into decisions which was a big big factor throughout the process. Thank you again and keep up the good work helping people! Cheers
    n W
    n W
    08:18 12 May 22
    I dealt with devin he made the process of my loan quite easy and quick
    Bryce Payten
    Bryce Payten
    03:04 12 May 22
    Simon Walstrom
    Simon Walstrom
    00:20 11 May 22
    Darren Henry
    Darren Henry
    10:32 10 May 22
    Zapryan Mirchev (Zac) was our Finance Specialist. Fantastic service from beginning to end, I would highly recommend contacting Zac from National Loans. Easy and no stress process.Thank you very much!
    Marica Barac
    Marica Barac
    08:32 10 May 22
    Jackson Tischler
    Jackson Tischler
    23:40 09 May 22

    What Is A Balloon Payment On A Car Loan?

    When you take out a balloon payment car loan, you agree to pay a percentage of the loan as a lump sum at the end of the loan.

    The balloon payment percentage is negotiable – it depends on your preferences, the age of the vehicle and the lender’s credit criteria. Most lenders cap balloon payments at a maximum 50% of the total loan amount.

    If you had a 50% balloon on a $30,000 vehicle loan, you’d have to pay a balloon payment at the end of the loan of $15,000.

    Balloon Payment Loan Example

    Imagine you took out a $35,000 car loan with an interest rate of 5% and a loan term of five years.

    Here’s how much you’d pay in three different scenarios – a standard car loan, a car loan with a balloon payment set at 30% and a car loan with a balloon payment set at 50%.


    Standard car loan

    Balloon payment car loan (30%)

    Balloon payment car loan (50%)

    Monthly repayments




    Balloon payment at end of loan




    Total repayments




    The standard car loan would save you $2,060 over the life of the loan, compared to the 50% balloon car loan.

    However, the monthly repayments would be $257 less with the 50% balloon car loan compared to the standard car loan.

    What Sets National Loans Apart?

    We Work For You

    Every step of the way, National Loans is on your side. We keep your best interests in mind so you can be confident you’re getting the best deal possible.

    Bad Credit Isn’t a Dealbreaker

    Less than ideal credit standing? That shouldn’t stop you from securing a great loan. Plus, you don’t have to worry about our quick quote affecting your credit score.

    We Won’t Keep You Waiting

    With our fast response time, you can secure a loan and be out on the road as soon as possible – start by getting a quick quote.

    Balloon Payment Advantages And Disadvantages

    The advantage of a balloon payment car loan is you have lower monthly repayments. This can be helpful if money is tight when you take out the loan – if you’ve just made a big purchase, for example, or you’re repaying another loan.

    The disadvantage of a balloon payment car loan is you’ll probably end up paying more over the life of the loan. You also need to make sure you have enough money to make the balloon payment at the end of the loan – which might be tricky if your finances were stretched in the first place.

    Can You Refinance A Balloon Payment?

    Yes, it is possible to refinance your balloon payment – some lenders offer this option.

    However, you can’t take refinancing for granted. If you apply for a balloon refinance, lenders will treat this like any other loan application, and use the usual loan assessment criteria.

    Interested in a balloon payment car loan? Click here for a free online quote. If you want help, please fill in this online form or contact National Loans on 1300 358 358.

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