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In advance — payment is taken at the start of each period. Common for equipment leases.

In arrears — payment is taken at the end of each period. Standard for truck loans and chattel mortgages.

Most clients choose arrears. Pick whatever you'd like — your contact at AYIO can talk you through it.

A balloon is a single lump-sum payment at the END of your loan term, instead of paying everything off through monthly instalments.

Example: a 30% balloon on a $100,000 loan = $30,000 owed at the end. Bigger balloon means lower monthly payments — but at term end you'll need to refinance, sell, or pay it out.

Common on truck and equipment loans.