Are you super rich? If you’re answer is yes, then I bet you’re getting a lot of options and choices for everything. One of them is getting a “free” Mercedes-Benz.
The CEO of C1 Bank (formerly Community Bank), Trevor Burgess, announced that they are offering a pre-paid interest when you open a CD worth $1M. And that interest is no other than a Mercedes-Benz luxury car. If you think you’re getting a C-Class, you’re mistaken; in fact, you’ll have your choice from the best, an E350 Cabriolet, E350 Sedan, ML350 and a 2012 SLK350 Roadster. Taxes, title and all the other registrations also come for free.
By now, you may already be asking “what’s the catch?” Yes, there is. Again, it is a pre-paid interest, which means that basically, you are allowing the bank to borrow your $1M and then after 5 years, they will return it without interest. Instead of getting the normal APR, you’ll be getting a car upfront. Sounds cool eh? But if you withdraw the money before the 5 year-period, you will get the money you deposited, minus the car’s cost and $3,000 withdrawal fee.
Have that amount of money to spare? Then go ahead and ‘lend’ it to C1 Bank and get any of the cool Merc models!