Quote:
Originally Posted by TitoSkulls
Yah, that makes sense. I guess I was just trying to get my head around this option. It's attractive because the monthly payments are lower. But in the end, you end up paying more interest than you would with a regular financing plan assuming the balloon payment is financed again at the end of the term.
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its true its lower, but i was thinking about this months ago and came to this conclusion...
ur downpayment is gonna be roughly little less then mine but numbers will work
that 40,000, say your paying around 855 a month or whatever, but with the balloon its like 550 or something, which is appealing, but down the road, you have to technically save up for the remaining balloon amount.. which is 20,000 / your term... so that adds like extra 200+ a month in "savings" you have to do, chances are you wont, therefore get fucked with the balloon in the end and have to refinance that etc..
thats basically what i got out of it, ur not paying the full monthly payment, but in reality you should be, because your saving it, unless u feel a huge xmas bonus is coming, lol:headbang: