Business terms and jargon explained. Your business dictionary
What is Balloon Payment
Is the final payment on a lease purchase agreement you pay to own the goods. If you buy a car, the final payment means that you own the car. You may however sell the car to pay this last balloon payment. Any excess is our to keep but if there is a short fall on the amount you will have to pay the difference to the finance company.
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Term created / updated 2006-04-24 11:44:19
Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms, and to explain them in Plain English so it is very easy to understand. Getting the right understanding and knowing your business jargon will keep you informed among your peers.
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