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The BMW Range
5 Series
F10, F11, F07
F10 Demographic
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<blockquote data-quote="EL118" data-source="post: 542053" data-attributes="member: 22940"><p>i used to wonder why HP effective rate is sometimes lower than housing mortgate effective rate. now i think it is because</p><p></p><p>i) for housing, it is based on daily or monthly rest. that means if you sell off your property (after the initial lock in period), u can pay off the balance principal amount without interest.</p><p></p><p>ii) for HP, the full interest have been included for the whole tenure. u you sell you car before the expiry of the full tenure, very minimal interest will be refunded. i.e. they make money for close to full term even though u settle early.</p></blockquote><p></p>
[QUOTE="EL118, post: 542053, member: 22940"] i used to wonder why HP effective rate is sometimes lower than housing mortgate effective rate. now i think it is because i) for housing, it is based on daily or monthly rest. that means if you sell off your property (after the initial lock in period), u can pay off the balance principal amount without interest. ii) for HP, the full interest have been included for the whole tenure. u you sell you car before the expiry of the full tenure, very minimal interest will be refunded. i.e. they make money for close to full term even though u settle early. [/QUOTE]
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