The balloon payment option can be selected when purchasing certain EVs and allows customers to make smaller monthly payments over the life of the contract and then pay a large lump sum at the end. Please note that state exceptions may apply.
Generally, there are three things you can do at the end of your contract if it includes the balloon option. Please reference your commercial balloon payment rider addendum, as some state exceptions may apply:
Purchase the vehicle: Requires you to make the balloon payment and pay any remaining balance on your account, which will pay off the vehicle.
Refinance the vehicle: Allows you to refinance the remaining balloon amount.
Sell the vehicle back to GM Financial: Does not require payment of the balloon amount. However, you must notify us 30 days in advance if you choose this option.