"Cutomser Option Plan"
 

Ford Credit lists a "Customer Option Plan" whereby a buyer could structure a car loan with a balloon payment at the end. The deal is you get lower payments up front, and at the end, you could either pay off or refi the loan- in any case, YOU own the car.

I've never seen this mentioned on this forum- anyone hear of it???

My mom bought her 3 this way. Mazda called it their "Assured Value Plan" (AVP). She put a chunk down, paying only like $100/month and the balloon is something like $7K at the end of four years. Or something like that. I know Lexus has started a similar program as well. Seems like the upsides of a lease with the upside of ownership....?

meh - i realize payments and all kinds of crazy finances are a necessity now-a-days.... but im only 24 and the thought of all these freaky contracts, time limits, balloon payments, blah blah really is kinda stupid to me.

my closing price was 28.5 for a loaded GT i put $10,000 down and paid off the rest within 1 years time. Only because my job allowed me to divert funds to pay down the car quickely.

I just think that all the fancy finance footwork and terms and options that are created these days are just designed to ultimately get more of YOUR money. Which is why if I can't buy something and pay it off VERY quickly - i dont buy it. I hate owing people money but the thought of owing someone for 5 to 7 years is horrible.

I think this is a truism: ANY plan from ANY financial institution is ONLY about making money for THEM - NEVER EVER about really 'helping' the customer.