If you have to turn in the car after three years final payment (the balloon) or be hit hard. Worth can’t afford a traditional installment loan, you won t Balloon auto loans closely resemble balloon Sylvia Porter be able to afford a balloon loan.” mortgages: You pay lower monthly installments, but Consider: Most owners keep cars for around eight at the loan’s maturity you must come up with a large years. A City of Village Charm balloon or forfeit the car. "Generally speaking, if you Manchester, Conn. 1985 - Single copy: 25C or four years in the future, you must come up with the Federation of America. * \AyorlnAftdfl\/Wednesday, JiiK July 31. M p r a l J i expensive car than you could with conventional Money's "You’re opening yourself to significant risk, says MmthtBtn financing - and you may not be fully aware that three Stephen Brobeck, executive director of the Consumer. ho* This type of loan is being actively promoted these The central point Don’t be fooled by the pitch that days because, with a balloon, you can buy a more Your you can buy more car with a balloon loan. Owe money if the bank determines that you put on too If you’re in the market for a car, have you been much mileage (a sticky question at best) or didn t asked if you would like to buy with a "balloon loan"? maintain it in top shape. page 5 Balloon loans are risky alternative page 2 Business In Brief Car buyers beware. JMANCHESTER FOCUS U.S./WORLD WEATHER \ BUSINESS MMH census stable Barbecues to go: Speculation increases Heavy rains tonight after decline in 1984 Try these recipes on Gemayel’s ouster clearing Thursday. BUSINESS [9^ Shultz to Set Groundwork for Summit
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