MBUSA Balloon financing - Mercedes Benz SLK Forum

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#1 Old 06-05-2013
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MBUSA Balloon financing

Has anyone had experience with this yet?


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#2 Old 06-05-2013
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Just trying to confuse you. You would be leasing in my opinion

Balloon Financing combines the privileges of ownership with the benefits of leasing:
You own the vehicle and have most of the same benefits as traditional financing.
The monthly payments are less than traditional financing thus providing more monthly disposable income.
Good for customers interested in tax depreciation (please consult your tax advisor).


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#3 Old 06-05-2013
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So I do not actually own the vehicle at the end of the loan??? It almost sounds like a leasing option with a down payment on the back end of the loan vs the front end.

Don't think for one minute that I am not pricing those suckers.. but it's nice to dream


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#4 Old 06-05-2013
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sounds like a lease to me. they are using the term 'own' very loosely. yes you own it if you don't make the payoff or return it


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#5 Old 06-05-2013
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Sounds like the old mortgage finance scheme: hook you in with low monthly payment for x number of months, and come up with a balloon payment (usually a large amount) at the end. The trick is to re-finance before the balloon payment is due.
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#6 Old 06-05-2013
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Sort of like a lease. In a lease the title is in lease company as the owner. In the balloon it is a loan and the title will be in your name as the owner with a lean on the car by the finance company. At the end of time you pay off the balloon and the car is yours or walk away like a lease. You need to find out if it is open end or closed end. That you do not need to pay any difference if car value is less than resale value.
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#7 Old 06-05-2013
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Well according to what I just found, this is in fact a true finance structure. Now I have to research the apr terms, im positive they're higher for the convenience of the back end of the payment. And a re-finance would definitely be in order.

**Once all payments have been made, you will own the vehicle


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#8 Old 06-05-2013
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you planning on moving up to a r172?


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#9 Old 06-05-2013
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Originally Posted by jbanks15 View Post
you planning on moving up to a r172?
I am thinking about it yes. Many factors come into play. *thinking* is the opportune word.


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#10 Old 06-05-2013
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well get a 55 or you will always wonder!


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#11 Old 06-05-2013
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Wonder what? what pure awesome feels like? I am in it now!! And have no payment. Which makes my window shopping ridiculous. BUT knowledge is powah!


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