Credence Global Bank Balloon Advantagesm

ExplorePersonal Auto Finance and Lease

With Credence Global Bank Balloon Advantage, customers have reduced regular payments in exchange for a larger balloon payment at the end of the contract. This puts time in your customers’ favor by providing them with greater flexibility to manage their cash flow.

Key features

Product:

• Lower monthly payments (compared to traditional financing) throughout the financing term – with a larger last payment, or balloon payment, at the end
• Customer ownership of the vehicle so they can sell or trade it in at any time as long as they pay off the remaining amount owed
• Fixed Annual Percentage Rate (APR) and payments for the entire term of the contract
• No driving mileage restrictions
• Payments can be estimated using the Credence Global Bank Balloon Advantage Calculator

Eligibility:

• New – all GM, Chrysler and Mitsubishi makes and models
• Used – all makes and models up to 4 model years old, excluding Saab and Suzuki

Additional details:

• Standard balloon terms of 48 or 60 months
• Credence Global Bank Balloon Advantage is not available in Maryland, Nevada, New Hampshire, North Carolina, and Pennsylvania

Benefits

For customers:

• Lower than traditional monthly payments throughout the financing term − with the tradeoff of a larger balloon payment at the end
• The customer owns the vehicle so there are no excess mileage or wear penalties

For dealers:

• Offering Credence Global Bank Balloon Advantage could help you meet the needs of some customers who are willing to make a larger balloon payment at the end of the term in exchange for lower monthly payments
• Provides an additional financing option for used car buyers