# Lease like loans **URL:** \ **Category:** Ask the Hackrs\ **Tags:** usa-nationwide\ **Created:** [October 30, 2021, 1:12pm UTC](https://forum.leasehackr.com/t/lease-like-loans/393659 "2021-10-30T13:12:09Z")\ **Posts on this page:** 10\ **Page:** 1
**Author:** ![don602](https://leasehackr.b-cdn.net/letter_avatar/don602/32/5_5575768a8748004e209b776fc1b2916d.png) [@don602](https://forum.leasehackr.com/u/don602)\ **Post date:** [October 30, 2021, 1:12pm UTC](https://forum.leasehackr.com/t/lease-like-loans/393659/1 "2021-10-30T13:12:09Z")
I have seen options for lease like loan in the past. I guess it is a balloon loan. Such that after 3 years the prior calculated residual value is due. The amortization is only on the prior estimated depreciated value. So it is possible to get a lower rate because it is short term. I like to get a new car every two or three years. It certainly will make it easier selling to vroom and such. Does anyone know which banks offer such a loan? without having to join a credit union. Thanks. Don ---
**Author:** ![mllcb42](https://leasehackr.b-cdn.net/letter_avatar/mllcb42/32/5_5575768a8748004e209b776fc1b2916d.png) [@mllcb42](https://forum.leasehackr.com/u/mllcb42)\ **Post date:** [October 30, 2021, 1:34pm UTC](https://forum.leasehackr.com/t/lease-like-loans/393659/2 "2021-10-30T13:34:48Z")
Ford offers this, otherwise it’s usually through credit unions. Penfed seems to get the most discussion. ---
**Author:** ![BradHP](https://leasehackr.b-cdn.net/letter_avatar/bradhp/32/5_5575768a8748004e209b776fc1b2916d.png) [@BradHP](https://forum.leasehackr.com/u/BradHP)\ **Post date:** [October 30, 2021, 1:46pm UTC](https://forum.leasehackr.com/t/lease-like-loans/393659/3 "2021-10-30T13:46:04Z")
> [@PenFed payment Saver](https://forum.leasehackr.com/t/penfed-payment-saver/391028): > > Does anyone know how the RV is calculated in the PenFed Payment Saver program? Latest discussion on this. ---
**Author:** ![max\_g](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/max_g/32/9426_2.png) [@max\_g](https://forum.leasehackr.com/u/max_g)\ **Post date:** [October 30, 2021, 2:23pm UTC](https://forum.leasehackr.com/t/lease-like-loans/393659/4 "2021-10-30T14:23:27Z")
> [@don602](#): > > Does anyone know which banks offer such a loan? without having to join a credit union. Just join a CU. What’s the difference? ---
**Author:** ![wam22](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/wam22/32/117390_2.png) [@wam22](https://forum.leasehackr.com/u/wam22)\ **Post date:** [October 30, 2021, 2:24pm UTC](https://forum.leasehackr.com/t/lease-like-loans/393659/5 "2021-10-30T14:24:49Z")
Every captive bank I have seen usually has a higher interest rate for balloons to make up for the lost fees (acquisition and disposition). Plus you pay sales tax on the full price of the car. Balloons only make sense if you are in a city or state where you are taxed on the full selling price compared to the amount of the lease or monthly payments. ---
**Author:** ![forbs](https://leasehackr.b-cdn.net/letter_avatar/forbs/32/5_5575768a8748004e209b776fc1b2916d.png) [@forbs](https://forum.leasehackr.com/u/forbs)\ **Post date:** [October 30, 2021, 3:20pm UTC](https://forum.leasehackr.com/t/lease-like-loans/393659/6 "2021-10-30T15:20:06Z")
Don’t forget that most balloon loans are NOT leases. At the end you owe the entire amount whether or not the value of the car at the time is that (aka , trying to sell it or trade it in). Ford’s Mach-e is one of the exceptions where it is a Balloon lease and Ford guarantee’s $0 buyback at the end. ---
**Author:** ![wam22](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/wam22/32/117390_2.png) [@wam22](https://forum.leasehackr.com/u/wam22)\ **Post date:** [October 30, 2021, 3:55pm UTC](https://forum.leasehackr.com/t/lease-like-loans/393659/7 "2021-10-30T15:55:22Z")
At least in the German car world, all of the captive banks treat them as traditional leases that are closed ended. I would stay away from a balloon unless you really know what is going on or there is a tax benefit, such as in Chicago or Texas. ---
**Author:** ![don602](https://leasehackr.b-cdn.net/letter_avatar/don602/32/5_5575768a8748004e209b776fc1b2916d.png) [@don602](https://forum.leasehackr.com/u/don602)\ **Post date:** [October 30, 2021, 4:47pm UTC](https://forum.leasehackr.com/t/lease-like-loans/393659/8 "2021-10-30T16:47:51Z")
I guess the goal here is an easy sale to vroom/carvana or whoever. I accept what ever the value is at time of sale- although I plan on being calculating. Usually April seems best time to sell. I have had VW and Volvo and they(lease bank) did not make it easy. Yes I pay tax on full value of car- I usually get something around 30K + or - .So tax paid on 36 month lease about $800 vs $1800 purchase . Then I save $700 in back inception cost? so it cost me $300 extra in sales tax. So do you approve of my strategy ? I recently (last 3 years)purchased a jeep and Subaru vs lease and it was so easy to sell it. Thanks. Don ---
**Author:** ![forbs](https://leasehackr.b-cdn.net/letter_avatar/forbs/32/5_5575768a8748004e209b776fc1b2916d.png) [@forbs](https://forum.leasehackr.com/u/forbs)\ **Post date:** [October 30, 2021, 5:16pm UTC](https://forum.leasehackr.com/t/lease-like-loans/393659/9 "2021-10-30T17:16:08Z")
Lease a 4xe like everyone else here is flipping ---
**Author:** ![system](https://leasehackr-assets.b-cdn.net/original/3X/f/7/f76e5433b417879e07ad6f0cee47e239c8f1cdd4.png) [@system](https://forum.leasehackr.com/u/system)\ **Post date:** [December 29, 2021, 5:16pm UTC](https://forum.leasehackr.com/t/lease-like-loans/393659/10 "2021-12-29T17:16:40Z")
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