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Finance broker explains: How Balloon Car Payments Ruin You
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Hey everyone, I'm Edwena Dixon a mortgage and finance broker in Australia and today I'll be sharing 4 common mistakes to avoid when it comes to balloon car payments. Balloon payments on a car loan can seem attractive but watch out for these key issues. From focusing on the full loan term to understanding depreciation, this video will help you make informed decisions when financing your next car. Stay tuned for pro tips that could save you thousands down the road!
Timecodes:
00:00 - Intro
00:42 - Mistake A Not focusing on the full loan term
02:08 - Mistake B Assuming you can refinance the balloon payment
03:23 - Mistake C Not understanding depreciation
04:51 - Mistake D Lacking budget discipline
06:14 - How to avoid balloon payment problems
06:56 - Outro
MY BEST RECOMMENDATIONS:
BE MY FRIEND:
Timecodes:
00:00 - Intro
00:42 - Mistake A Not focusing on the full loan term
02:08 - Mistake B Assuming you can refinance the balloon payment
03:23 - Mistake C Not understanding depreciation
04:51 - Mistake D Lacking budget discipline
06:14 - How to avoid balloon payment problems
06:56 - Outro
MY BEST RECOMMENDATIONS:
BE MY FRIEND:
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