Have you seen those cars driving around with the back windscreen advertising “Drive a car from R699 per month” sms 1234 with this code? Turns out the whole thing is a ponzi scheme and has crumbled quicker than Thandi Modise’s dream of owning a thriving farm.
But it’s the people burnt in the scam that I really, really feel for.
Driving a car for R699 per month suddenly puts a whole bunch of people in the market for a set of wheels.
And from the outset it looks like an attractive offer…
1) You get a car
2) The car repayment is discounted because you drive with an advert on the back of your vehicle
3) You need to rack up a certain amount of mileage to continue getting the vehicle repayment rebate (the more you drive around the more eyeballs on the Ad)
4) If someone signs up on the back of your unique Ad code (displayed on the back of your vehicle), you get reimbursed
Seems like a fair deal and a pretty smart business idea. Win win, right?
But now the advertising kick backs to clients every month have simply stopped!
Imagine you are used to paying R1000 pm on your car installment because of the R1000 advertising kick back you receive. Then it suddenly stops and you owe the bank R2000pm. How are you going to find the extra money?
Apparently the contract reads something like this ” advertising fees may vary / fluctuate month to month”
It doesn’t say. We have cyphoned enough money and have decided to crash this ponzi scheme, sorry for you”
And it seems 17000 people nationwide are caught in this predicament
I feel for you and hope you get these @#$holes in court
If you, or anyone you know of, has been caught in this R699 scam, we would like to hear from you
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