<prompt> Human: So I am buying a plane for school sounds crazy right but its cheaper for me to log hours in an inexpensive aircraft than for me to rent when earning a commercial license because of the minimum 250 hours of flight time needed. So about 30,000 for rental fees VS buying an OK small plane 20,000 with 19month to park at the airport, It was a no brainer. After finding the right plane, I get In contact with the seller, have a pre purchase inspection and title search done. When all comes back clear, I decided to move forward and work with an aircraft lender that happens to be close with the seller. It was disclosed that the plane was repod from a guy a few months ago. I filled out an application for a 4 year loan that I would be paying about half of the total principal down managed to save 9K for that, and the rest over the next few years. 3 days later I get the contracts in the mail. It stated the amount monthly that we talked about but at the end of the paragraph also stated that twelve months into the loan the ENTIRE remaining loan principal would be drawn from my account IN FULL. So what I take from that is... Unless you have major cash floating around in your checking, it would bounce, the loan would default, and they would have full rights to visit your friendly neighborhood airport and take your plane? Do people not read loan contracts? Is this standard and theres just something Im misunderstanding?Please correct me if Im wrong, but I smell fish.Thanks!  <response>: Sounds like a balloon loan. At that point you could take out another loan if you didnt have the balloon payment.Ask if you can do it as a non-balloon. 