"Free" S550 bank promotion
12-07-2015, 12:06 PM
#1
Member
Thread Starter
"Free" S550 bank promotion
FYI
I have no connection to this offer. No idea of tax implications or whether you can choose optional equipment. Did not check out whether it's a scam or not.
It is nice as you apparently get the car upfront. It would be a better deal if it was a more collectible car that might appreciate.
https://www.c1bank.com/promos/mercedes-benz/
Edit: Just to be clear, I'm not suggesting that anyone actually do this.
Cary
I have no connection to this offer. No idea of tax implications or whether you can choose optional equipment. Did not check out whether it's a scam or not.
It is nice as you apparently get the car upfront. It would be a better deal if it was a more collectible car that might appreciate.
https://www.c1bank.com/promos/mercedes-benz/
Edit: Just to be clear, I'm not suggesting that anyone actually do this.
Cary
Last edited by MrRat; 12-13-2015 at 11:37 PM.
12-07-2015, 12:35 PM
#2
ive dealt with alot of shady stuff in my past. not sure if this is a scam or not but this sounds like a scam. why would you even post this on here without looking into it first?
i just looked at the site. so you get 1 s class or 3 sprinter cargo vans. come on bro this is a fuking scam. it should read invest 1 million and you never hear from us again.
i just looked at the site. so you get 1 s class or 3 sprinter cargo vans. come on bro this is a fuking scam. it should read invest 1 million and you never hear from us again.
Last edited by xxfightclubxx; 12-07-2015 at 12:40 PM.
12-07-2015, 02:29 PM
#3
MBWorld Fanatic!
They're essentially paying a 2% yield on a $1,000,000 CD, but doing it in the form of a car instead of paying normal interest. C1 is an actual bank, and Crown Motorcars is an MB dealer in Tampa. So tempting, but I just locked up my million in a transaction in Nigeria. Apparently a wealthy dude died, and the bank there needed an American to collect ten million dollars. All I had to do was pay the 10% transaction fee. So pretty soon I'll be really rich.
12-07-2015, 04:05 PM
#4
They're essentially paying a 2% yield on a $1,000,000 CD, but doing it in the form of a car instead of paying normal interest. C1 is an actual bank, and Crown Motorcars is an MB dealer in Tampa. So tempting, but I just locked up my million in a transaction in Nigeria. Apparently a wealthy dude died, and the bank there needed an American to collect ten million dollars. All I had to do was pay the 10% transaction fee. So pretty soon I'll be really rich.
12-07-2015, 05:57 PM
#5
Senior Member
It's a legit offer. The only scam is the bank locking you into a ridiculously low interest rate for the next 5 years when the Fed is probably going to raise rates this month or sometime next year. Worse part is, depending on your situation, the car immediately loses value as the car would be recognized as taxable interest income.
12-08-2015, 01:31 AM
#6
It's a legit offer. The only scam is the bank locking you into a ridiculously low interest rate for the next 5 years when the Fed is probably going to raise rates this month or sometime next year. Worse part is, depending on your situation, the car immediately loses value as the car would be recognized as taxable interest income.
When do you expect the Fed to increase and by how much? When they do, how and how much will your savings account react?
Taxes will have to be paid on the income regardless of when it is received....and as we all know, buying a brand new S-class is never a good use of funds from an investment perspective
The real risk here is a $1 million deposit far exceeds the FDIC insurance limits and don't kid yourselves otherwise, depositors can lose money if the bank goes belly up....
12-08-2015, 05:12 AM
#7
Senior Member
What kind of interest rate are you getting on your savings account right now?
When do you expect the Fed to increase and by how much? When they do, how and how much will your savings account react?
Taxes will have to be paid on the income regardless of when it is received....and as we all know, buying a brand new S-class is never a good use of funds from an investment perspective
The real risk here is a $1 million deposit far exceeds the FDIC insurance limits and don't kid yourselves otherwise, depositors can lose money if the bank goes belly up....
When do you expect the Fed to increase and by how much? When they do, how and how much will your savings account react?
Taxes will have to be paid on the income regardless of when it is received....and as we all know, buying a brand new S-class is never a good use of funds from an investment perspective
The real risk here is a $1 million deposit far exceeds the FDIC insurance limits and don't kid yourselves otherwise, depositors can lose money if the bank goes belly up....
As far as the Fed,even though I think QE1 and QE2 were wrong, I don't really care about the impact of the Fed rate increase (will be minute % anyway because Yellen is chicken ****). IMO, the best money making opportunity was during the 2008-2009 meltdown. Waiting for the next black swan event to capitalize, but that seems a few years away
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12-08-2015, 10:00 AM
#8
MBWorld Fanatic!
Join Date: Nov 2014
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2015 S550
The market is going to take a giant crap very soon....and it's going to be A LOT worse than 2008. But this time there won't be any big recovery to follow. The Fed has buried us so deep that there won't be any chance to recoup those coming losses. They've run out of ideas....except the idea of killing off the middle class.
12-08-2015, 01:23 PM
#9
They're essentially paying a 2% yield on a $1,000,000 CD, but doing it in the form of a car instead of paying normal interest. C1 is an actual bank, and Crown Motorcars is an MB dealer in Tampa. So tempting, but I just locked up my million in a transaction in Nigeria. Apparently a wealthy dude died, and the bank there needed an American to collect ten million dollars. All I had to do was pay the 10% transaction fee. So pretty soon I'll be really rich.
12-08-2015, 04:38 PM
#10
Member
Thread Starter
There's no way this works out well ( unless you own a bank and can borrow at the discount rate of 1/2 percent for the next 5 years).
There is FDIC risk, if the bank failed you're potentially out 750 G's.
This could work on a cheap lease where the interest income equals the upfront one payment lease cost and the lease term equals the term of the CD.
So a $350/month car, which when you add in all costs, is going to be something like an Accord LX, would take $210,000 in deposit for 3 years to approximately equal a 3 year lease.
In any case the lump sum is taxable in the year realized. So you will still pay something for the car, your marginal tax rate times the 12,600 lump sum. I guess that's better than covering the tax on $100,000 lump sum.
There is FDIC risk, if the bank failed you're potentially out 750 G's.
This could work on a cheap lease where the interest income equals the upfront one payment lease cost and the lease term equals the term of the CD.
So a $350/month car, which when you add in all costs, is going to be something like an Accord LX, would take $210,000 in deposit for 3 years to approximately equal a 3 year lease.
In any case the lump sum is taxable in the year realized. So you will still pay something for the car, your marginal tax rate times the 12,600 lump sum. I guess that's better than covering the tax on $100,000 lump sum.
Last edited by MrRat; 12-08-2015 at 06:14 PM.
12-11-2015, 12:06 AM
#11
I would never put my money in a traditional savings account let alone a CD that earns peanuts and won't keep up with inflation. Best approach is to have a mix of investments. I am a traditional value investor so I look for undervalued stocks and troubled industries. I also like dividend paying stocks, high yield bonds, and REITS.
As far as the Fed,even though I think QE1 and QE2 were wrong, I don't really care about the impact of the Fed rate increase (will be minute % anyway because Yellen is chicken ****). IMO, the best money making opportunity was during the 2008-2009 meltdown. Waiting for the next black swan event to capitalize, but that seems a few years away
As far as the Fed,even though I think QE1 and QE2 were wrong, I don't really care about the impact of the Fed rate increase (will be minute % anyway because Yellen is chicken ****). IMO, the best money making opportunity was during the 2008-2009 meltdown. Waiting for the next black swan event to capitalize, but that seems a few years away
So which stocks are currently "undervalued"?
And which industries are "troubled?
Which "high yield bonds" do you advise buying?
"IMO, the best money making opportunity was during the 2008-2009 meltdown."
Do you remember Howard Cosell? They called him The Master of the Obvious.
"Waiting for the next black swan event to capitalize, but that seems a few years away"
How many years? 3? 5? 14?
12-11-2015, 12:09 AM
#12
There's no way this works out well ( unless you own a bank and can borrow at the discount rate of 1/2 percent for the next 5 years).
There is FDIC risk, if the bank failed you're potentially out 750 G's.
This could work on a cheap lease where the interest income equals the upfront one payment lease cost and the lease term equals the term of the CD.
So a $350/month car, which when you add in all costs, is going to be something like an Accord LX, would take $210,000 in deposit for 3 years to approximately equal a 3 year lease.
In any case the lump sum is taxable in the year realized. So you will still pay something for the car, your marginal tax rate times the 12,600 lump sum. I guess that's better than covering the tax on $100,000 lump sum.
There is FDIC risk, if the bank failed you're potentially out 750 G's.
This could work on a cheap lease where the interest income equals the upfront one payment lease cost and the lease term equals the term of the CD.
So a $350/month car, which when you add in all costs, is going to be something like an Accord LX, would take $210,000 in deposit for 3 years to approximately equal a 3 year lease.
In any case the lump sum is taxable in the year realized. So you will still pay something for the car, your marginal tax rate times the 12,600 lump sum. I guess that's better than covering the tax on $100,000 lump sum.
Bingo.
The mere fact the bank is offering a 550 to attract deposits would raise a red flag with me were I a regulator....this "strategy" is completely inappropriate.
12-11-2015, 03:18 AM
#13
Senior Member
Awesome.
So which stocks are currently "undervalued"?
And which industries are "troubled?
Which "high yield bonds" do you advise buying?
"IMO, the best money making opportunity was during the 2008-2009 meltdown."
Do you remember Howard Cosell? They called him The Master of the Obvious.
"Waiting for the next black swan event to capitalize, but that seems a few years away"
How many years? 3? 5? 14?
So which stocks are currently "undervalued"?
And which industries are "troubled?
Which "high yield bonds" do you advise buying?
"IMO, the best money making opportunity was during the 2008-2009 meltdown."
Do you remember Howard Cosell? They called him The Master of the Obvious.
"Waiting for the next black swan event to capitalize, but that seems a few years away"
How many years? 3? 5? 14?
That said, any douche bag looking back at 2008-2009 will say OF COURSE it was a good bet. SURE, everybody thinks so now, but at the time, FEAR was running rampant and people were SCARED SHI TLESS!!! Nobody knew what the H ELL was going to happen. I took my time researching and had the ***** to put my DICK and my MONEY out there. Yeah, I picked a few dogs like GM and AIG, but most of the decisions were right.
The problem with people these days is they want a stock tip or a money making scheme to get rich quick. Unless you work for a tech startup that goes IPO, it doesn't happen that way. It takes research, patience, and a little luck.
I don't know why you asked me the questions because for a number of them it should be so obvious - if you stay on top of current events...
1) IMO very few stocks are undervalued. Most are inflated because of the glut in global monetary policy. Start selling.
2) Oil & Commodities are in a downturn
3) There a number of High Yield mutual funds that will take the risk out of investing in individual company junk bonds.
4) Don't know about the next Black Swan event. Just have cash ready for when the time comes.
My best advice to you or anyone else, DON'T CONSULT STRANGERS ON AN MB FORUM for investment tips, unless it has to do with the cost of purchasing a Mercedes.
12-11-2015, 12:32 PM
#14
Member
Thread Starter
It's the same old story of 20/20 hindsight. I managed to be nimble enough to largely miss the 2008 downturn. But then I failed to call the upturn( I still was convinced there'd be another leg down) and essentially got back in at nearly the same cost basis that I sold at.
Also I find, even with big wins such as my fairly recent run with a couple of thousand shares of Apple ( which I mostly sold off well into the 100s ) that overall you tend not to beat a straight s&p 500 index over long periods.
The people who provide predictions are profiting by writing justification for empty assertions. If I knew with certainty where any part of the market was going, it's relatively simple to use options and leverage and have a multi hundred million $ windfall. Why bother writing about it if you know?
The same goes for anyone posting a market prediction. If you're sure then make a nice leveraged bet on it.
And Psychics, if you know the future, you can easily and quickly use that for great wealth and then do your psychic thing for fun.
Also I find, even with big wins such as my fairly recent run with a couple of thousand shares of Apple ( which I mostly sold off well into the 100s ) that overall you tend not to beat a straight s&p 500 index over long periods.
The people who provide predictions are profiting by writing justification for empty assertions. If I knew with certainty where any part of the market was going, it's relatively simple to use options and leverage and have a multi hundred million $ windfall. Why bother writing about it if you know?
The same goes for anyone posting a market prediction. If you're sure then make a nice leveraged bet on it.
And Psychics, if you know the future, you can easily and quickly use that for great wealth and then do your psychic thing for fun.
12-11-2015, 12:59 PM
#15
Member
Thread Starter
My opinion
Oil - this will eventually have a run again. BP or CVX pay a high dividend but as the commodity drops they may not be able to maintain it. The price will bounce again but it's difficult to predict with the Saudis trying to kill off excess US producers and other producers. When they're done we will swing to lower production and higher worldwide consumption. I do have some fairly modest investment here that I made recently and will leave for a long time (5-10 year time horizon)
We're about due for a correction but that could be in 5 years from now or tomorrow. The real story is the maxim "don't fight the fed". They can do quite a bit to float the market. Right now it's basically "free money" for banks. This helped them offset their real estate and related losses in securities built on the real estate loans. The banks are probably a wise investment here in a modestly rising interest rate environment.
I have some funds in a REIT from my company 401k but that may be pressured if interest rates rise. Right now with low inflation there's little pressure to raise rates.
Oil - this will eventually have a run again. BP or CVX pay a high dividend but as the commodity drops they may not be able to maintain it. The price will bounce again but it's difficult to predict with the Saudis trying to kill off excess US producers and other producers. When they're done we will swing to lower production and higher worldwide consumption. I do have some fairly modest investment here that I made recently and will leave for a long time (5-10 year time horizon)
We're about due for a correction but that could be in 5 years from now or tomorrow. The real story is the maxim "don't fight the fed". They can do quite a bit to float the market. Right now it's basically "free money" for banks. This helped them offset their real estate and related losses in securities built on the real estate loans. The banks are probably a wise investment here in a modestly rising interest rate environment.
I have some funds in a REIT from my company 401k but that may be pressured if interest rates rise. Right now with low inflation there's little pressure to raise rates.
12-11-2015, 02:20 PM
#17
Senior Member
12-11-2015, 10:02 PM
#18
MBWorld Fanatic!
The market is going to take a giant crap very soon....and it's going to be A LOT worse than 2008. But this time there won't be any big recovery to follow. The Fed has buried us so deep that there won't be any chance to recoup those coming losses. They've run out of ideas....except the idea of killing off the middle class.
12-12-2015, 12:42 AM
#20
I note a hint of skepticism in your response.
That said, any douche bag looking back at 2008-2009 will say OF COURSE it was a good bet. SURE, everybody thinks so now, but at the time, FEAR was running rampant and people were SCARED SHI TLESS!!! Nobody knew what the H ELL was going to happen. I took my time researching and had the ***** to put my DICK and my MONEY out there. Yeah, I picked a few dogs like GM and AIG, but most of the decisions were right.
The problem with people these days is they want a stock tip or a money making scheme to get rich quick. Unless you work for a tech startup that goes IPO, it doesn't happen that way. It takes research, patience, and a little luck.
I don't know why you asked me the questions because for a number of them it should be so obvious - if you stay on top of current events...
1) IMO very few stocks are undervalued. Most are inflated because of the glut in global monetary policy. Start selling.
2) Oil & Commodities are in a downturn
3) There a number of High Yield mutual funds that will take the risk out of investing in individual company junk bonds.
4) Don't know about the next Black Swan event. Just have cash ready for when the time comes.
My best advice to you or anyone else, DON'T CONSULT STRANGERS ON AN MB FORUM for investment tips, unless it has to do with the cost of purchasing a Mercedes.
That said, any douche bag looking back at 2008-2009 will say OF COURSE it was a good bet. SURE, everybody thinks so now, but at the time, FEAR was running rampant and people were SCARED SHI TLESS!!! Nobody knew what the H ELL was going to happen. I took my time researching and had the ***** to put my DICK and my MONEY out there. Yeah, I picked a few dogs like GM and AIG, but most of the decisions were right.
The problem with people these days is they want a stock tip or a money making scheme to get rich quick. Unless you work for a tech startup that goes IPO, it doesn't happen that way. It takes research, patience, and a little luck.
I don't know why you asked me the questions because for a number of them it should be so obvious - if you stay on top of current events...
1) IMO very few stocks are undervalued. Most are inflated because of the glut in global monetary policy. Start selling.
2) Oil & Commodities are in a downturn
3) There a number of High Yield mutual funds that will take the risk out of investing in individual company junk bonds.
4) Don't know about the next Black Swan event. Just have cash ready for when the time comes.
My best advice to you or anyone else, DON'T CONSULT STRANGERS ON AN MB FORUM for investment tips, unless it has to do with the cost of purchasing a Mercedes.
12-13-2015, 11:35 PM
#21
Senior Member
12-16-2015, 01:08 AM
#22
"1) IMO very few stocks are undervalued. Most are inflated because of the glut in global monetary policy. Start selling."
If you know this to be true you should be aggressively shorting stocks -- which companies are you short? Have you ever shorted a stock?
"2) Oil & Commodities are in a downturn"
Should we assume you are short those too? How and how much?
"3) There a number of High Yield mutual funds that will take the risk out of investing in individual company junk bonds."
Which fund/s are you invested in? Why would you buy more than one high yield fund?
12-16-2015, 03:31 AM
#23
Senior Member
LOL...
"1) IMO very few stocks are undervalued. Most are inflated because of the glut in global monetary policy. Start selling."
If you know this to be true you should be aggressively shorting stocks -- which companies are you short? Have you ever shorted a stock?
"2) Oil & Commodities are in a downturn"
Should we assume you are short those too? How and how much?
"3) There a number of High Yield mutual funds that will take the risk out of investing in individual company junk bonds."
Which fund/s are you invested in? Why would you buy more than one high yield fund?
"1) IMO very few stocks are undervalued. Most are inflated because of the glut in global monetary policy. Start selling."
If you know this to be true you should be aggressively shorting stocks -- which companies are you short? Have you ever shorted a stock?
"2) Oil & Commodities are in a downturn"
Should we assume you are short those too? How and how much?
"3) There a number of High Yield mutual funds that will take the risk out of investing in individual company junk bonds."
Which fund/s are you invested in? Why would you buy more than one high yield fund?
12-16-2015, 11:41 PM
#24
PS...the next time I look at "Thompson analytics" (whatever that is) will be the first time -- but I will say that last time I sent Michael Bloomberg a bloomberg he did answer in less than 2 hours
12-17-2015, 08:54 AM
#25
Senior Member
It sounds like an amazing deal, till you work out the numbers.
You invest $1M, they pay you 1.98% interest a year for 5 years.
Compounded, this works out to $102,998
Instead, they give you a credit of 104,123.23 at the nearby MB dealer.
So they are effectively offering you a $1M CD @ 1.98% then throwing in $225/year cash as a bonus ($1125 total)
Another way of restating this offer is:
"Invest $1M with us and lock up your money for 5 years a the low, low interest rate of 1.98% and we will give you a bonus 0.02% to top it up to a full 2%!!"
Nothing to see here.. just an interest rate of 2% on a $1M CD. Hopefully anyone who as accumulated $1M is smart enough to know that they can get better rates elsewhere and buy their own car...
You invest $1M, they pay you 1.98% interest a year for 5 years.
Compounded, this works out to $102,998
Instead, they give you a credit of 104,123.23 at the nearby MB dealer.
So they are effectively offering you a $1M CD @ 1.98% then throwing in $225/year cash as a bonus ($1125 total)
Another way of restating this offer is:
"Invest $1M with us and lock up your money for 5 years a the low, low interest rate of 1.98% and we will give you a bonus 0.02% to top it up to a full 2%!!"
Nothing to see here.. just an interest rate of 2% on a $1M CD. Hopefully anyone who as accumulated $1M is smart enough to know that they can get better rates elsewhere and buy their own car...
