What is the early repayment penalty for BMW?
1 Answers
For BMW early repayment, if the loan period is less than one year, the penalty is approximately 8% of the prepayment amount. If the loan period is one year or more, the penalty ranges from 1% to 5% of the repayment amount. Below is relevant information about BMW: 1. Introduction to BMW: The full Chinese name is Bavarian Motor Works Co., Ltd., a German luxury car brand. BMW was founded on March 7, 1916. Its predecessor was an aircraft factory, initially renowned for manufacturing streamlined biplane reconnaissance aircraft. The predecessor company was named BFW, and its founder was Gustan-Otto. 2. Meaning of the BMW logo: B.M.W. stands for Bavarian Motor Works. The colors and design of the logo are derived from the coat of arms of Bavaria, the state where BMW is headquartered. The blue and white pattern serves as a reminder of BMW's pure Bavarian heritage.