JOHANNESBURG - A third of Standard Bank’s customers looking to buy a car have opted to include the maximum balloon payment in the past 12 months.
South Africans continue to struggle with affordability due to high interest rates.
Managing Your Money | Balloon payment warning for new car buyers
While balloon payments may appear to make car ownership more affordable, they come at a higher cost.
Head of Dealer Sales at Standard Bank SA, Mothusi Dire, joined eNCA on Tuesday afternoon for more.