Free Mercedes With That Bank Account

[sam22]

Free Mercedes With That Bank Account - Yahoo! Finance

A new offer from C1 Bank, a Florida community bank with assets of $827 million, promises new customers their choice of one of four new Mercedes in exchange for depositing $1 million in a five-year certificate of deposit. “We’ve had lots of questions about it,” says chief executive Trevor Burgess. “Nobody has taken us up on it yet, but we’re only on day two.”

...

But the C1 offer has one big catch. It’s not actually a bonus, but rather prepaid interest on the 1.2% account, Burgess says. Consumers get what amounts to a $61,294.04 car (including tax, delivery and registration) instead of five years of interest, worth $60,000, reports Business Insider. “It’s about instant gratification,” says Burgess. Accountholders who withdraw funds early will get the balance less the cost of the car.

I don't see why anyone with $1 million to put in a CD would take up this bank's offer. They didn't get that much money because of instant gratification. And they're smart enough to earn more than a 1.2% return.

 

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