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Balloon Payment on Car Finance deal.

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  • 17-02-2011 4:03pm
    #1
    celticbest
    Registered Users Posts: 2,092 ✭✭✭


    Hi,

    I bought a new car in 2007 and the finance is due to finish up on the 02/04/11.

    I have a balloon payment of €5,000 which is also I presume due around this time.

    The bank has not yet been in touch with me about the payment of the balloon & I was wondering if anyone knows is it possible to re-finance the €5,000 over say... 2 years instead of making a one of payment which would be a huge chunk of my savings.

    Thanks.
    CB
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