See how much you'll owe when your balloon (residual) payment falls due, and compare paying it out in cash against refinancing it into a new loan.
Original loan
$60,000 · 8.50% · 5 yrs
$
% p.a.
years
% of loan amount
If you refinance the balloon
Over 3 yrs at 8.50%
years
% p.a.
Balloon amount due at end of term
$0
Due after 5 years
Regular repayment during term$0
Total interest paid during term$0
Your options at balloon payout
Option A — Pay in cash
$0
Paid as a single lump sum when the balloon falls due. No further finance required.
Option B — Refinance the balloon
$0 / month
Over 3 years at 8.50% — total additional interest of $0.
Important information: This calculator provides estimates only and does not constitute a loan offer, pre-approval, or personal financial or credit advice. It assumes interest rates entered remain fixed for the periods shown. Refinancing a balloon payment is subject to a new credit assessment and lender approval at the time, and the rate available may differ from the estimate used here. This calculator does not account for fees, charges, or changes to the asset's value that may affect refinancing or trade-in options. Speak with us for an assessment based on your actual circumstances closer to your balloon due date.
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Get your balloon payout quote
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In the meantime, feel free to keep adjusting the numbers above.
