THE TRUTH ABOUT BALLOON PAYMENT| Cars Eps 3| *with calculations | What you need to know about it!

In this video, I talk about all things balloon payment, the positive, the negative, and my opinion about it. I hope you enjoy this video, if you do please leave a comment below, like this video, and consider subscribing.
I love you all.

[@gordenmg4966]

For anyone wanting to buy a car, dont sign offer to purchase prior to finding out how your loan contract is structured first apply for finance wait for the feedback and check out the figures and interest rate offered before you sign, dont sign document without inspecting the car.

[@tondi1701]

Yooo Ballon Payment Issa trap.. Thanks for the infor. Will keep that in mind. 🙌

[@rixongileblessing3567]

It’s a big trap in a Christmas box, am glad you liked it ❤️

[@EvidenceSello]

I don't like Balloon Payment honestly! I also did not take one! You're right if you can't save that money in the first place, it's gonna hard for you to pay it at the end.

[@rixongileblessing3567]

Sooo true hey and now you have to save that money , pay instalment and also additional costs of a car , making it harder to save.

[@RealTalkWithNthabi]

Valuable Content. We need more of this. Thank u

[@rixongileblessing3567]

Thank you so much Sis 😍

[@MbhoniMzee]

So informative. please keep on sharing such content

[@rixongileblessing3567]

Thank you so much, will do!

[@standout4290]

I did not even know what a balloon payment was before. You are sooooo good at these things sesi ❤

[@rixongileblessing3567]

Now you know what to look out for when you get your new set of wheels 😍😍😍

[@jehukhomola4920]

Never had it on my first car and I just finished paying it off. I’m going to take a balloon payment for my 2nd car despite all this great advise bcs I want a GTI and I will trade it in after 3 years for a newer car

[@empress9601]

I believe Balloon payment isn't bad as long as you're a hard worker and you have multiple streams of income to pay the remaining amount of the car

[@GoodEarSounds]

Eye opening on balloon payment with its effects, Thank you

[@rixongileblessing3567]

Thank you watching Smanga and am happy you found it informative

[@danielshamu8890]

If you're a businessman don't be quick to shun a Balloon payment, as long as the purchase is business motivated not pleasure

[@graciousmkhonto9349]

Very informative 😘

[@rixongileblessing3567]

Thank you so much Gracious

[@PsKmusic]

I also believe in paying off your loan in the shortest amount of time possible👌

[@rixongileblessing3567]

That is a good way for us to build wealth

[@I_KILL_CUCKS]

If you make the money to do so. Most people don’t.

[@standout4290]

Definitely learning

[@rixongileblessing3567]

This makes me happy, let’s keep learning more content coming up

[@bonakalazoey]

Congrats on 200 subbies hun🎉🎉🎉🎉

[@rixongileblessing3567]

Thank you so much hun, woke up to this and I am so happy 💃🏾💃🏾💃🏾💃🏾

[@bonakalazoey]

@@rixongileblessing3567 🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉

[@bonakalazoey]

Really enjoyed this series Xongi 😊.... Balloons payments are scams. Wait did i say that🙆🙆🙆😜🏃‍♀️🏃‍♀️🏃‍♀️🏃‍♀️🏃‍♀️🏃‍♀️🏃‍♀️🏃‍♀️🏃‍♀️🏃‍♀️🏃‍♀️🏃‍♀️🏃‍♀️🏃‍♀️🏃‍♀️

[@rixongileblessing3567]

Thank you for watching babe, they are just a way to get us trapped in debt

[@EvidenceSello]

I AM HERE!!!

[@rixongileblessing3567]

Thank you so much for being here!!!!

[@gordenmg4966]

Its just a way for the bank to make more money even when you afford the car they put up the ballon dont just sign contract without checking it out.

[@katlegonkwane1259]

Hi, great advise here. Do you know whether it would be wise to add a little extra towards the balloon amount monthly and will this impact the overall interest or repayment terms in the long term?

[@simonmodiba2500]

Tazz nwana mhani😍😍real steel😂😂I heard you

[@rixongileblessing3567]

Loll Sigh Mara, definitely the real steal

[@masanarikhotso5780]

Finally😍😍

[@rixongileblessing3567]

Hahaha you are making me feel bad, I will try not to keep you waiting for too long now🙈

[@Kingbroyal]

Modern cars are not made to last for 10 to 15 years though

[@hundzukanicyrilngobeni4893]

Yessssss girl

[@rixongileblessing3567]

Yes my friend

[@stuwardmpangane1813]

Ka cuzi, with the example that you made ya 30% balloon payment, do you pay back the R60K lumpsum or installments?

[@athenkosindzondo7743]

You have 2 options:
1.Pay it back as a lump sum or 2.approach the bank for refinancing and pay it back in monthly installments.
Option 2 is a financial suicide because with refinancing you will be charged a further interest on that R60k,this is now a new interest cause you already paid interest of this R60k on your monthly car installments that you just settled.
To make things worse,the bank can decline your refinance application due to a low credit score or cause of affordability,remember alot can happen in this 6 year's so there's no guarantee that you will be at the same financial situation you were in 6 year's ago.
Only go Balloon if you know what you are doing.

[@dunisanirikhotso7097]

I had one on my first car 😢

[@rixongileblessing3567]

And how did that go for you, first cars are always tricky, we don’t know most of these things 😅

[@NtebalengLibazi]

Yhooo I took it and I regret

[@k.romaingames5054]

💗💗💗💗💗💞💞💕💌😊

[@rixongileblessing3567]

Thank you for the love K

[@NtebalengLibazi]

Installments