Quote:
Originally Posted by Mrbig5hot
Who told you this? Do you know me to assume I can't afford a car? I am speaking about options purchasing the car! Idk what planet your in right now but if you're just waking up the automotive industry isn't the same!
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It's the internet - calm down a little. Balloon payments happen all the time but that doesn't mean it's a good idea. If you also are in the habit of trading cars out and rolling in your amortization, then you could get to the point where they will not allow you to do (risk increases). You tend to need good credit to get into a balloon payment. I guess the only pro is the lower monthly payment to begin with but it sets the one taking the loan in a weird position if they can't plan for that increased payment/s at the end.
Side note - I purchased a pretty loaded used m240i for about 4-5k under MSRP. It ended up being just a little more than what I wanted to pay (mostly due to trade-in value) but it also has quite a few more options than what I would have settled for in a new car.