Compare no balloon with a smaller and larger one, and see the repayment and total cost of each.
Illustrative rate, not a lender offer
Repayment frequency
Balloon to test
Repayment with a 20% balloon
$163/ week
- Lower weekly repayment
- $28
- Extra interest overall
- $1,847
- Total interest at 20%
- $11,438
- Total payable
- $51,438
A balloon lowers each repayment but leaves a lump sum to pay, refinance or cover with a trade-in at the end. You pay interest on it for the whole term, so the total cost rises. Lenders cap it by asset type and term, and it can never exceed the amount financed.
Calculator results are indicative estimates only and do not constitute a finance quote, offer, approval or financial advice. Actual repayments, rates, fees and loan terms depend on the lender, product and individual circumstances.
How the balloon payment figures are worked out
- 01
A balloon is a lump sum left owing at the end of the term, set as a share of the price.
- 02
It lowers each repayment, but interest is charged on it for the whole term, so the total cost rises.
- 03
Lenders cap the balloon by asset type and term, and it can never be more than the amount financed.
Calculator results are indicative estimates only and do not constitute a finance quote, offer, approval or financial advice. Actual repayments, rates, fees and loan terms depend on the lender, product and individual circumstances.
- Asset finance repaymentsRepayments on a vehicle, truck, machine or equipment, with deposit, trade-in, fees and balloon.
- Extra repaymentsFind out how much time and interest an extra amount each month could save.
- Fortnightly repaymentsSee how paying half the monthly repayment every fortnight clears a loan years sooner.
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