"Free Mercedes With That Bank Account"

"A new offer from C1 Bank, a Florida community bank with assets of $827 million, promises new customers their choice of one offour new Mercedes in exchange for depositing $1 million in a five-year certificate of deposit. "



Well, as long as we’re being subtle…

Read the fine print, they basically deduct the cost of the car from your future interest.

Obviously, the price of the car is deducted somewhere. I just thought it was interesting that they are packaging a Mercedes with a CD.

I looked closer, and it appears the car is 100% of your interest. Not sure if interest is taxable in FL, but US will certainly want their $21k come tax time.

BTW, not suggesting that you endorse the offer or think it’s a good deal. This could be a good deal for pro athletes who are about to retire though. At least they’ll have $1MM coming to them 5 years after retirement, not many of them have anything at that point.

The bank might not actually expect to sell any of these CDs. It made a lot of free publicity - now many people on the internet know about “C1 Bank” in Florida. So seems like it was quite clever, actually.