A balloon payment is a one-off lump sum that you agree to pay your lender at the end of your jet ski loan term. If you decide to go with a balloon option, you can choose this balloon amount or percentage with your Lending Specialist's guidance before your loan is submitted for approval.
A lot of customers choose to have a balloon payment to reduce their repayment commitments throughout the term of the loan with the knowledge of when they are likely to upgrade to the next jet ski.