This plan is the same as conventional hire purchase with one key difference - there is a larger "balloon" payment deferred to the end of the agreement. This reduces the fixed regular payments. However, unlike Chrysler Horizon, the final balloon payment is not optional and the future value of your car is not guaranteed.
How it Works
Simply choose the car you wish to purchase and decide your agreement term of between 12 and 48 months.
Then choose the amount of the balloon payment that you will defer to the end of the agreement (subject to a maximum set by Chrysler Group Financial Services).
The balloon payment and any deposit are deducted from the price of your car. You make regular payments based on the remaining balance plus the agreement interest.
At the end of the agreement, following the settlement of the balloon payment, you will own your car outright.
- Fixed regular payments for easy budgeting
- Flexibility - you choose the deposit and agreement term to suit your needs
- Your regular payments are reduced because the balloon payment is deferred to the end of the agreement
- You own your car at the end of the agreement
Additional Benefits for Business Customers
- Interest charges are allowable against tax
- A proportion of the car's value can be written down against profits because it is an asset on your balance sheet (CO2 based)