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Old 05-08-2017, 08:19 AM
1968BMW2800 1968BMW2800 is offline
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Location: Southern California
 
Join Date: Aug 2016
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Mein Auto: MINI Clubman S All4
Quote:
Originally Posted by adrian's bmw View Post
From the OC contract:

"Section 12. Balloon Payment Options

C. Return (Sale) Option: (b) Pay you any amounts owed under the Contract on the due date of the Balloon Payment except the Balloon Payment; of my obligation to pay the Balloon Payment when I meet all of these requirements."

Looks like a clean break like a lease return to me.
So, if the contract language is clear that the balloon covers the entire balance due for the car (not counting return fee and any excess wear and tear), then the bit about "you will owe the difference between the predetermined price of the BMW and the balloon payment amount" would be moot. Predetermined seems to be the key here.
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