Balloon Hire Purchase is almost the same as a regular Hire Purchase agreement but includes a final ‘balloon’ payment that is owed at the end of the contract.
Choose Balloon Hire Purchase if you want to keep your monthly payments low and intend to own your car at the end of the agreement. This plan is also suited to those who want the flexibility to decide the length of their contract. Plans can last from 12 to 48 months, depending on your requirements.
It is important to remember that, unlike a standard Personal Contract Purchase agreement, the final balloon payment is not optional. Signing up for this plan therefore means you agree to pay the balloon payment, and will then become the outright owner of the car.
If you would prefer the flexibility to decide the outcome of your car at the end of the contract, consider an Advance Payment Plan (APP).
Please enquire with your nearest Sturgess dealership to talk about a Balloon Hire Purchase agreement with one of our financial specialists. A team member can also introduce the new and used models in our stock and book you in for a test drive.