Quote:
Originally Posted by StraightSix-d
It seems that if you reduce the initial payment, you pay more on the monthly amount. There's no escape  |
True, but the interest is calculated and applied before the initial payment. So, you are just paying a proportion of your monthly payment in advance. It has no effect on the interest charge at all.
It's your call of course but if that was my cash I'd rather it was earning interest for me rather than BMW - £3k at 3% over 3 years is about £280.