Lease-Like Auto Financing
Balloon Financing is like a lease, except that you actually own the vehicle. You can finance terms of 24, 36, 48, or 60 months and then have a balloon note to pay at the end of the term.
At the end of the balloon contract, you can either finance the balance at current used auto rates or sell the vehicle to pay off the balance. The balloon payment amount must be equal to 90% of residual value per Auto Lease Guide (ALG), and loan request must exceed ALG residual value amount.
New Auto Balloons feature:
Used Auto Balloons feature:
For more information, visit any of our conveniently located branches, or call (631) 698-7000, extension 6790.
All rates and terms are subject to change without notice.