What are the policy guidelines for loans with a balloon payment?

Balloon payments are permitted under specific conditions, which differ for Commercial and Consumer lending.

Commercial Lending:

Vehicle Age: The financed asset must be no older than 4 years at the start of the loan term.
Maximum Balloon Percentage:
- For 24, 36, and 48-month terms: The balloon payment cannot exceed 40% of the loan amount.
- For 60-month terms: The balloon payment cannot exceed 30% of the loan amount.
Exclusions: This option is not applicable for:
- Visa holders.
- The 'accelerate' product.
Sales Channel: Accepted for both dealer and private sale transactions.

Consumer Lending: