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Thread: [Watch] Carte Blanche: Luxury Vehicle Ponzi Scam

  1. #46
    Super Grandmaster f2wohf's Avatar
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    Quote Originally Posted by nazmo View Post
    Yeah, maybe a bit harsh from my side. Logic is logic though. if it doesnt make sense on a calculator, something isnt right. double check the quote, check everything. Its alot of money to just jump into. If you REALLLLLY want a bmw, then do traditional financing with a big balloon and be Ok with the trade in cycle and guaranteed buy back value. Nothing wrong with that method if it suits how you turn over cars.
    Some of them didn't even get an OTP.

    Another one realized that the dealership forged her signature on the OTP.

    Definitely a dealership to recommend.

  2. #47
    Super Grandmaster konfab's Avatar
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    Quote Originally Posted by Cray View Post
    Am not so sure about the stupid part, might be more greed than anything, like they knew that things were a bit dodgy and where trying there luck. Just like I think a lot of Ponzi scheme investors aren't as innocent as they seem and just hoped to be high enough up the pyramid to take the money and run...
    It is a perfect example of people lacking the ability to delay gratification.

  3. #48
    Super Grandmaster Cray's Avatar
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    Quote Originally Posted by nazmo View Post
    Yeah, maybe a bit harsh from my side. Logic is logic though. if it doesnt make sense on a calculator, something isnt right. double check the quote, check everything. Its alot of money to just jump into. If you REALLLLLY want a bmw, then do traditional financing with a big balloon and be Ok with the trade in cycle and guaranteed buy back value. Nothing wrong with that method if it suits how you turn over cars.
    Yup - From experience with some of these guys they really will bend over backwards to get financing sorted (within reason) -of course you are going to get screwed royally with balloon payments and residual but if you really have to drive a BMW they can make a plan.

  4. #49
    Super Grandmaster Cray's Avatar
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    Quote Originally Posted by konfab View Post
    It is a perfect example of people lacking the ability to delay gratification.
    Indeed, and don't get me started on the arguments I've had with car salesmen...

    "How much would you like to pay a month Sir?"

    "What is the cost of the car all in?"

    "But what would you like to pay?"

    "Tell me the cost or I'm leaving...."
    Last edited by Cray; 12-07-2018 at 11:15 AM.

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    Quote Originally Posted by maumau View Post
    What about Wesbank? Were they involved in any way.
    Not directly but ignored the fact that vehicle prices were inflated.

  6. #51
    Super Grandmaster UrBaN963's Avatar
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    Quote Originally Posted by Cray View Post
    Indeed, and don't get me started on the arguments I've had with car salesmen...
    Had this recently.

    "How much are you looking to spend?"

    "well, I'm specifically interested in these 2 models, why don't you show me around?"

    "Yes, but how much do you want to spend a month, what's your budget?"

    "You seem more interested in the money than the fact I've TOLD you what I want to buy - you're a car salesman, your job is to sell cars, not finance. Have a nice day."


    Salesman lose the plot at times.
    For it is not for nought we age, decay. Another must come along; build the new day; discover a new way, a new dragon to slay.

  7. #52
    Super Grandmaster maumau's Avatar
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    Quote Originally Posted by Cray View Post
    Indeed, and don't get me started on the arguments I've had with car salesmen...
    What about all the adverts - drive an xyz for only RRR per month. Never a mention of the overall price.
    Honi Soit Qui Mal Y Pense

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    Quote Originally Posted by UrBaN963 View Post
    Had this recently.

    "How much are you looking to spend?"

    "well, I'm specifically interested in these 2 models, why don't you show me around?"

    "Yes, but how much do you want to spend a month, what's your budget?"

    "You seem more interested in the money than the fact I've TOLD you what I want to buy - you're a car salesman, your job is to sell cars, not finance. Have a nice day."


    Salesman lose the plot at times.

    They have the flexibility with financing these days to sell you the car based on your approval. Car sales people are mostly redundant if you really study what you want to buy. All they there for is to facilitate paperwork IMO. When I testdrove my car and the wife's car, i knew more than the sales guy. I dont expect them to know every detail of every model, so its not a big deal.

  9. #54
    Super Grandmaster UrBaN963's Avatar
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    Quote Originally Posted by nazmo View Post
    They have the flexibility with financing these days to sell you the car based on your approval. Car sales people are mostly redundant if you really study what you want to buy. All they there for is to facilitate paperwork IMO. When I testdrove my car and the wife's car, i knew more than the sales guy. I dont expect them to know every detail of every model, so its not a big deal.
    True, but thatís beside the point. Legally the salesman cannot discuss finance with you because the FIM has to do that, prevents unreal expectations/promises due to credit checks etc.
    For it is not for nought we age, decay. Another must come along; build the new day; discover a new way, a new dragon to slay.

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    Quote Originally Posted by UrBaN963 View Post
    True, but that’s beside the point. Legally the salesman cannot discuss finance with you because the FIM has to do that, prevents unreal expectations/promises due to credit checks etc.
    Yeah, they shouldnt push it at all, should be at the tail end of all discussion. Tell them what you willing to pay, what options you not willing to take regarding financing etc.... As a buyer, you do need to have an idea what your maximum is before entering the dealership. And DO NOT testdrive something you cant afford, you might just make it "affordable" hahahahaaaa.

  11. #56
    Super Grandmaster Kosmik's Avatar
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    Quote Originally Posted by maumau View Post
    What about Wesbank? Were they involved in any way.
    The two I'm moaning about are the dealership and any financial institutions involved. Both are required by law to do due diligence and comply with FAIS.
    Neo-Luddite - Permanent Darwin award candidates

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    Quote Originally Posted by Sumen View Post
    Fck me, R15k a month for a 3 series. Holy sh.t. How could these people not notice that this is a scam. I would sh.t myself if I even had to pay half that for a car. A bloody car. Save that amount for a few months and you could buy a cheap car cash.

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