Open a $1 million CD, Get a Brand New 2015 Mercedes-Benz.

CHOOSE YOUR SPEED

One new 2015 Mercedes-Benz S550 Sedan or three new 2015 Mercedes-Benz Sprinter Cargo Vans from Crown Eurocars. The choice is yours when you open a $1 million 5-year CD.

FAQ's

A: The Mercedes Promotional 5-year CD has an interest rate of 1.98% per year, compounded daily, which corresponds to an Annual Percentage Yield of 2.00%.
A: No, the car serves as the prepaid interest that the Certificate of Deposit would have earned during the 5-year (60 month) term of the deposit.
A: The promotional offer is limited to two per depositor.
A: No, a transfer from an existing C1 Bank account is not eligible for the Mercedes CD Promotion. Current clients are permitted and encouraged to deposit new funds via wire transfer or cashier’s check, however.
A: No. Offer valid only for US Residents ages 18 years and older or for US business customers.
A: The amount of $104,123.23 will be made available to Crown Eurocars for you to purchase your pre-negotiated package. If the depositor would like to use the pre-paid interest towards the purchase of a different vehicle or upgraded packages the client will be responsible for all taxes, fees, and other costs associated with the purchase of their desired vehicle. The depositor will need to work directly with Crown Eurocars to arrange upgrades or substitutes to the pre-negotiated packages.
A: Color and options are subject to availability, however, the client can work with Crown Eurocars to locate and order the color of their preference. The client will be responsible for any additional charges incurred for specially ordered colors/options.
A: The client can choose to purchase additional features/upgrades (subject to availability), however, the client is responsible for any difference between the pre-calculated interest amount and any other fees or charges incurred in connection with the purchase.
A: No. Client must take delivery of the vehicle in person at Crown Eurocars Inc. located at 6001 34th St N, Saint Petersburg, FL 33714. Be sure to bring your unexpired, government-issued driver’s license too.
A: C1 Bank will issue a same year (2014 or 2015) 1099-INT Interest Statement reflecting prepaid interest earned amounting $104,123.23. You should consult and discuss any taxation issues with a tax advisor.
A: Yes. Once a depositor takes ownership of the vehicle from Crown Eurocars, they own the vehicle(s) completely and are able to use or sell the vehicle as they see fit.
A: Good question. The prepaid interest amount is indeed the full amount of interest you would have earned, compounded daily, for the term of the CD given the amount of principal deposited. The amount of prepaid interest is the exact same dollar amount that you would have received at maturity, just paid up front, in the form of a car.
A: At the end of the 5-year (60 month) term of the Certificate of Deposit, the depositor receives a check for the $1 Million principal that was initially deposited. See https://www.fdic.gov/deposit/deposits/ for information on FDIC Insurance.
A: Absolutely, and any C1 Bank banker can help to determine the appropriate depository accounts for you or your business. See https://www.fdic.gov/deposit/deposits/ for information on FDIC Insurance.
A: In the event that the account is closed before the end of the 5-year (60 month) term, C1 Bank will deduct the amount equal to the total pre-paid interest used to purchase the vehicle from the $1 Million principal deposit. In addition to the early withdrawal penalty, C1 Bank will also deduct an early withdrawal fee of $3,000 from the $1 Million principal deposited. The early withdrawal penalty and fee would total $107,123.23 and you would receive $892,876.77 of your $1 Million deposit.
Terms & Conditions

C1 Bank’s 60 month Certificate of Deposit (CD) special with a minimum opening balance and required minimum balance of $1,000,000.00 is valid through March 31, 2015. Offer applicable to traditional CD accounts only. Individual Retirement Account CDs are not eligible for this special offer. This offer is valid through March 31, 2015 and may be withdrawn at any time without notice. This offer is applicable for NEW funds only and is available for both Consumer and Business deposits. CD accounts must be opened in person at a C1 Bank banking center location and funded with a certified cashier’s check drawn on a US financial institution or via wire transfer. Offer valid only for US Residents ages 18 years or older with a valid government-issued driver’s license and for US business customers (offer not valid for residents or businesses outside the continental US). Offer is limited to two (2) Mercedes packages per household depositor for this promotion. Subject to the terms and conditions of the deposit contract, C1 Bank will pay a pre-calculated interest rate of 1.98% with an annual percentage yield (“APY”) of 2.00% in advance on deposited funds at the completion of account opening. The 2.00% APY is available for new accounts only opened on or before March 31, 2015. For new accounts opened after March 31, 2015 the interest rate and APY will be based on the 60 month interest rate offered in connection with this promotion at the time the account is opened and compounded daily. The pre-calculated interest in advance amount $104,123.23 based on the 2.00% APY available through March 31, 2015 can only be used towards the purchase of one of two (2) specific Mercedes Benz vehicle packages from Crown Eurocars Inc. The two (2) promotional packages available for purchase are one (1) 2015 S550 Sedan or three (3) 2015 Sprinter Cargo Vans, subject to dealer availability. The packages have a pre-negotiated price of $96,990.51 for the S550 package and $94,512.39 for the Sprinter Cargo Van package, which includes sales tax, delivery fee, Florida Lemon Law fee, Florida tire and battery fee, registration/tag and electronic filing fee results in a total purchase price of $104,123.23 (in the case of the Sprinter Cargo Van package the client will also receive $0.22 cash). Client will be responsible for any other fees or charges incurred in connection with purchase. Client may select vehicle from available inventory designated by Crown Eurocars Inc. If Client selects vehicle from other inventory of Crown Eurocars Inc., Client will be responsible for the difference between the pre-calculated interest in advance amount and the purchase price of the vehicle and any related increase in taxes, fees and other costs associated with the purchase of the vehicle. Vehicle color and options subject to availability. Vehicle may only be registered in the name of the Primary account owner and due to the rules of Crown Eurocars Inc., cannot be exported to any location outside of the continental United States for a period of 12 months from the date of purchase and delivery. Client will be responsible for Insurance, Warranties, Licenses, and any other fees and costs not covered under the terms and conditions of this promotion. Client (or duly authorized officer in the case of a business) is responsible for taking must take delivery of the vehicle in person at Crown Eurocars Inc. located at 6001 34th St N Saint Petersburg, FL 33714. Pre-calculated interest earned and paid in advance on the CD may be subject to applicable State or Federal taxes. C1 Bank will issue a same year (2014 or 2015) 1099-INT Interest Statement for pre-calculated interest earned. Client should consult and discuss any taxation issues with a tax advisor. FDIC deposit insurance covers the standard deposit insurance amount of at least $250,000.00 per depositor, per insured bank, for each account ownership category, as provided by applicable law. FDIC Insurance Coverage can be calculated using the FDIC’s online Electronic Deposit Insurance Estimator (EDIE) at: www.fdic.gov/edie. Significant early withdrawal penalties will apply to the CD available through this promotion. The principal amount will be reduced by any penalty for the early withdrawal of funds. In the event of early withdrawal, C1 Bank will deduct from the $1,000,000.00 principal amount deposited the amount of the pre-calculated, pre-paid interest paid in advance and specifically used for a Mercedes vehicle purchase from Crown Eurocars Inc., including any delivery, tax and costs paid with such interest ($104,123.23). In addition to the early withdrawal penalty, C1 Bank will also deduct an early withdrawal fee of $3,000.00 from the $1,000,000.00 principal amount deposited. The early withdrawal penalty and the early withdrawal fee could reduce the earnings on your CD account. Partial withdrawals are not allowed. Once the CD is opened, client agrees to be bound by the terms and conditions of the promotional offer and deposit account agreement during the 60-month term of the CD and even after the account is closed. At maturity of the full term with no exceptions or withdrawals, the client is entitled to receive from C1 Bank the $1,000,000.00 principal amount of deposited funds only. The CD is not auto-renewable. In addition, by accepting the terms and conditions of the promotional offer, the primary account holder forever releases and holds C1 Bank and C1 Financial, Inc. and Crown Eurocars Inc. harmless from any and all liability for any injury, loss or damage of any kind to persons, including death, and property arising in whole or in part, directly or indirectly, from acceptance, possession, use or misuse of the vehicle, or participation in the offer. This promotion and agreement will be governed by the laws of the State of Florida and applicable federal laws and regulations. C1 Bank is not responsible for any incorrect or inaccurate information provided in advertising by Crown Eurocars Inc. C1 Bank reserves the right to cancel or modify this offer at any time without notice. Please visit C1 Bank for full terms and conditions of this limited time promotional offer.