THE BALLOON PLAN
THE BALLOON PLAN
With The Balloon Plan you can keep your monthly payments lower by deferring a proportion of the amount of finance to the final payment at the end of the agreement.
Agree on the initial down payment and tenure of the agreement based on which we will confirm your regular monthly payment. An Authorised Jaguar Retailer will submit the finance application to Jaguar Financial Services and subject to your application being approved, you can drive away in your Jaguar.
How It Works:
− Decide your down payment for a new Jaguar.
− Set your monthly payments to suit your budget by adjusting the final payment amount.
− Repay over 1-5 years for a new Jaguar.
− Down payment from 10 % may be available subject to approval from Jaguar Financial Services and at their sole discretion.
− With The Balloon Plan, you have the opportunity to maintain a lower EMI which is fixed for all months thanks to the final higher payment scheduled to be paid in a lump sum at the end of the tenure.
− There are no mileage restrictions as with other finance options.
What Happens At The End Of The Agreement?
− Pay the deferred final payment and retain your Jaguar.
− Part-exchange the car subject to settlement of your existing finance agreement. You are then free to upgrade to a new Jaguar.
What Else Do I Need To Know:
− Ideal if: You like to drive the newest model and you want to keep your monthly payments lower.
− Introducing a deferred final payment enables you to reduce your monthly payment.
− Options at the end of the tenure to pay the final payment and retain your Jaguar.
− A proportion of the finance is deferred until the end of the agreement so you should prepare for this.
− We strongly recommend that your Jaguar has a valid insurance policy throughout the tenure of the agreement.
− Your car is at risk of repossession if you do not maintain repayments as per your agreement.
− After all the payments have been made, Jaguar Financial Services will issue a No Objection Certificate allowing you to remove hypothecation from the Registration Certificate. Until the final payment is made, the car will remain hypothecated by Jaguar Financial Services.