Quote:
Originally Posted by Wobbles
 that's a good one. How do you guys normally purchase your cars anyway? I know it sounds like a stupid question, but in Singapore, taking out a bank loan to purchase a car is a common occurrence. The loan tenure can stretch up to 5 years, and just 2 years ago, prior to the rule change, it is quite common for buyers to take out a 10 year loan for a car purchase. I reckon in situations like these, BMW *and* the bank should be sending the buyer a truckload of car goodies for every purchase! |
10 years??? OMG - on a car? At an interest rate of only 3%, you would pay an additional $10,700 in interest on a $68,000 (more than $14,500 interest cost at 4% money) car and you would be upside-down probably through month 90.