Hi,
I have discussed the same thing in Sweden with Siemens, GE, and a couple of others. The terms they offered were similar to your description, with about 15% down payment and a 5 year term with a balloon payment at the end that is typically rolled over to another 5 year term.
I was mainly interested in N-reg aircraft, but no one here was interested unless it was for biz jet type money.
I believe financing this kind of purchase is intelligent because it keeps your money free to work with. I have always made more with my money than what the interest payments to the bank are. However, with the amount of money you're talking about I guess it's easiest to pay cash, or use a line of credit.
If money is the main concern, I would suggest a joining solid group with a suitable aircraft and less than 10 members. I have been unable to find a decent group in Stockholm, and as result, I belong to several flying clubs and still can't get an aircraft on short notice or a weekend.
Good Luck!