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Thread: R699 car sales scheme court battle

  1. #1
    MyGaming Alumnus James's Avatar
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    Default R699 car sales scheme court battle



    The hearing into the R699 car sales scheme has been set down for early August in the Eastern Cape High Court in Port Elizabeth, a lawyer representing consumers said on Tuesday.

    "This morning the judge granted an order postponing the matter to the seventh [of August]," Duncan Heuer said.

    After the matter was seen as urgent last week, if it had not been opposed it would have taken place on Tuesday, he said.

    After papers...read more here: R699 car sales scheme court battle

  2. #2
    Assassin of Accountants Ike_009's Avatar
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    That's all I'm saying
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    Daddy TK DieGrootHammer's Avatar
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    Anyone that didn't see this for the scam it is should be ashamed. Pro-tip; if you cannot easily explain and identify how a company makes it's money, it probably a scheme of some sort...

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    Assassin of Accountants Ike_009's Avatar
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    Quote Originally Posted by DieGrootHammer View Post
    Anyone that didn't see this for the scam it is should be ashamed. Pro-tip; if you cannot easily explain and identify how a company makes it's money, it probably a scheme of some sort...
    To be fair you can see how the model works, however the model wasn't sustainable.
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  5. #5

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    I disagree about this scheme being a pyramid scheme - the earn while you drive option does not force you to do any marketing as your income per month is not dependent on how many people you have recruited or how many people your recruited people hav recruited.

    I helped my mother buy one of these vehicles some time back and it actually worked out wonderfully for her. She received over R25k between Oct 2011 and June 2014. They never missed a payment even though the amounts varied slightly. She never drove the full 2000km, so we knew full well that we would not be receiving the full amount every month.

    If there are more scams out there that will pay us R25k in less than 3 years, please let me know. I'm interested.
    When an anti-piracy method is affecting the game for people who legitimately bought it and causing other people not to buy the game, there is obviously something wrong with it!

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    Neo Zeon Glordit's Avatar
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    Quote Originally Posted by Wyzak View Post
    I disagree about this scheme being a pyramid scheme - the earn while you drive option does not force you to do any marketing as your income per month is not dependent on how many people you have recruited or how many people your recruited people hav recruited.

    I helped my mother buy one of these vehicles some time back and it actually worked out wonderfully for her. She received over R25k between Oct 2011 and June 2014. They never missed a payment even though the amounts varied slightly. She never drove the full 2000km, so we knew full well that we would not be receiving the full amount every month.

    If there are more scams out there that will pay us R25k in less than 3 years, please let me know. I'm interested.
    Atleast you understood that sometimes you were not going to pay the lowest amount possible all the time.

    People (not including your mother) budgeted that they would pay the lowest amount possible every month for the duration of the contract. Life does not work like that, you should be prepared to pay full price for the entire term of the contract. Getting money back is just a bonus.

  7. #7

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    Quote Originally Posted by Glordit View Post
    Atleast you understood that sometimes you were not going to pay the lowest amount possible all the time.

    People (not including your mother) budgeted that they would pay the lowest amount possible every month for the duration of the contract. Life does not work like that, you should be prepared to pay full price for the entire term of the contract. Getting money back is just a bonus.
    Exactly. We chose a car she could easily afford even if the scheme collapsed immediately, and a car that she would have bought anyway had the scheme not been available.
    When an anti-piracy method is affecting the game for people who legitimately bought it and causing other people not to buy the game, there is obviously something wrong with it!

  8. #8
    Assassin of Accountants Ike_009's Avatar
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    Ok here is why I say it's a pyramid.

    The Scheme got money from people smsing in and/or buying a car through them. This to me leads to 3 possible endings.

    A.
    Everyone in SA sends an sms and finds out more, no more people can sms and the fund collapses.

    B.
    Everyone in SA buys a car through them, no more people to buy cars and the scheme collapses.

    C.
    Lots of people buy cars through the scheme. This means that there are more people to pay from the SMS revenue than the SMS revenue can supply. Payments decrease and advertising slows down as negative rep decreases the schemes viability and as such revenue decreases until the scheme collapses.

    As with a pyramid scheme if you get in early then the system works for you but for the guy who entered 3 months ago it's a huge burn in their wallet.

    So even you may think it's not a pyramid, scenarios A and B are 2 extremes that show that in fact it really is when you boil it down to it's bare facts.

    Also i'm excluding the car repayments from my explanation and solely focussing on the recoupments from the scheme. The car purchase was meant to hide the ponzi payments IMO.
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  9. #9

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    The scheme got money from the advertisers on the back, not from people buying vehicles through the scheme. There were no initial fees (that I recall) or monthly fees. It did not cost me a single cent to participate in the scheme, but I received R25k back. To my knowledge they did not receive a single cent from the banks.
    When an anti-piracy method is affecting the game for people who legitimately bought it and causing other people not to buy the game, there is obviously something wrong with it!

  10. #10
    Assassin of Accountants Ike_009's Avatar
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    Quote Originally Posted by Wyzak View Post
    The scheme got money from the advertisers on the back, not from people buying vehicles through the scheme. There were no initial fees (that I recall) or monthly fees. It did not cost me a single cent to participate in the scheme, but I received R25k back. To my knowledge they did not receive a single cent from the banks.
    Granted you may not have paid, but if everyone has a car from them then how would they get any money
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