What is Residual Value of a Car? - Tips on settling your balloon payment!

For first time buyers or just someone looking to finance a car, the question at times would be whether its a good idea to take a residual or some would call it, balloon payment. The decision is entirely up to you, if it makes financial and locomotive sense for the duration and use of the vehicle; your future intention. It always best to seek financial legal advice as we can only give you insight based on experience and not legalities.
Instagram: RIDEWITHANDA, ACNKATU

[@sikhuselecobokana4679]

Thanks ANDA

[@heavymbedzi2143]

This is very profound Anda, quiet useful information especially for first time car buyers. Keep up the good work

[@medyck5874]

Hi, and if I pay deposit of 50k on a car of 150k the use ballon of 50% what happen just wanna know
Thanks

[@andankatu7513]

Hi, In your case it would mean you financing 50k…firstly if you putting down a 33% deposit, you don’t need a high balloon or a balloon at all. After the term however, you would still need to pay the 50%. Hope that helps.

[@oscarmafafo7445]

How about i trade in mid payment years or last year of finance settlement?

[@andankatu7513]

You can trade in your car at any point and the settlement amount would be inclusive of the residual amount 👍