Florida bank offers free Benz with new $1M account

Filed under: Car Buying, Marketing/Advertising, Mercedes-Benz, Luxury

The rich have all the fun, don't they? With your bank account, you get, what, free checks? Overdraft protection? A toaster maybe?

If you had a cool million sitting around, just taking up space, you could get yourself a free Mercedes-Benz. Not just a base C-Class either.

Open a five-year CD of at least $1 million at C1 Bank (formerly Community Bank) and you'll have your choice of a 2012 SLK350 Roadster, E350 Sedan, ML350 or an E350 Cabriolet. And, as a further bonus, your new car will come with tags, title, license and taxes all paid.

Small print? Oh, you betcha. First, you're limited to two vehicles per household. Second, unlike most CDs, at the end of its five-year life, you will cash out for exactly what you put in. Basically, you're letting the bank hang on to your $1 million for five years in return for that $60k-ish Mercedes you're driving. Instead of 1.2-percent APR you would normally collect at the end of the CD's life, you're getting a car up front.

Pull your money out early, and you'll get back what you put in, minus the cost of the car and a $3,000 early withdrawal fee.

Still, if you can spare a million for five years, and were about to buy a Mercedes anyway, it could be a good deal.

For details (and more small print) check out the press release by scrolling below.

Continue reading Florida bank offers free Benz with new $1M account

Florida bank offers free Benz with new $1M account originally appeared on Autoblog on Tue, 01 May 2012 14:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Source: http://www.autoblog.com/2012/05/01/florida-bank-offers-free-benz-with-new-1m-account/

Joe Nemechek Washington Scott Alan Wimmer Hermann Lang Los Angeles Clippers Rasheed Wallace Jan Lammers