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Are you super rich? If your answer is yes, then you probably get a ton of options and choices for everything. One bank in Florida is going a step further to please their customers by offering at “free” Mercedes with a new bank account.
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. But instead of receiving interest, they’re offering a brand new Mercedes up front. 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?” 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.