Got a Million ? Get a Free Benz

[Mac-Apple]

Anyone got a Million laying around? Get a Free Benz? I do not work for this company , nor do I endorse them, just thought it was a cool concept.


http://www.c1bank.com/mercedes-benz/

[toph]

So you get useless 1.2% interest rate a year for 5 years and they give you a new mercedes? pretty pointless IMHO
if you got 2.5% elsewhere that woud be an extra circa $70000 over 5 years anyway
Much better ways to use your money
no offence

[Mac-Apple]

I definitely see your point, but I am sure you could get them to give you a better rate of return... Saying please goes along way :D

[toph]

Originally Posted by Mac-Apple

I definitely see your point, but I am sure you could get them to give you a better rate of return... Saying please goes along way :D

That is true. I would doubt it though ( especially with such a gimmick as this) as that is how they will make there money. Not getting personal at all but I am sceptical of such things.
They will get the mercedes on interest free payments for 5 years hoping they can lend your money out at a rate of at least 3 % lets just call it 3.6% as that is triple 1.2% ( could be up to 10% i guess)
Second option they invest your money and that can go two ways.
Now you are then faced with who is guaranteeing the deposits and how much of what they lend out will be bad debt... and as it turns out this is why the world has come to its kness in the last 3 years.

[Mac-Apple]

You are definitely right about the world coming to its knees the past 3 years!!!! If I only would of bought Apple stock in 07 like I told myself to... I would be pretty good right now... Would of Could of , but I didn't :(

[toph]

Originally Posted by Mac-Apple

You are definitely right about the world coming to its knees the past 3 years!!!! If I only would of bought Apple stock in 07 like I told myself to... I would be pretty good right now... Would of Could of , but I didn't :(

Hindsight is a wonderful thing when it comes to buying stocks and shares
If i had only ... my favourite words of recent times

[77T]

The ROI is rubbish.

The better deal (before you drain the 401k to do this) is - 1. buy the Mercedes, 2. borrow the money from your 401k, 3. pay yourself back @ 6%.

You make better ROI buying a Mercedes using your own savings that way.

[tranny]

Franklin funds will waive your management fee if you invest 1 mil +

[unclesallie]

Originally Posted by toph

So you get useless 1.2% interest rate a year for 5 years and they give you a new mercedes? pretty pointless IMHO
if you got 2.5% elsewhere that woud be an extra circa $70000 over 5 years anyway
Much better ways to use your money
no offence

[SaddleSC]

It gets even worse...if I am reading it correctly, the Mercedes IS the interest on the CD offered in a lump sum in the first year. You do not get 1.2% PLUS the car. You also then have to pay taxes on the entire amount in the first year. So, in exchange for the use of your million dollars, you receive a quickly depreciating asset and a nice large tax bill.

[mtrunner]

Most likely anyone with a million dollars to invest is going to know this is a terrible deal.

[SaddleSC]

Originally Posted by mtrunner

Most likely anyone with a million dollars to invest is going to know this is a terrible deal.

My thoughts exactly.
This is a "self-regulating" offer because any person who thinks this is a wise investment, wouldn't have the $1 million the begin with.

[CEELOWTHEGR8]

this is the dumbest idea I have ever seen in my life

definitely some better things to do with my savings than this

[Welshwatchman]

Originally Posted by CEELOWTHEGR8

this is the dumbest idea I have ever seen in my life

definitely some better things to do with my savings than this

I have seen dumber, much dumber.

Still, this would not interest me.