Buy A Condo, Get A Beemer
In yesterday's article, I mentioned the slowdown in the real estate market. The Washington Post published the following item in the article "Developer Hopes to Get Mileage from BMW Offer" (reproduced in its entirety):
"Forget about free plasma TVs, gift cards or upgraded cabinets. What about that free BMW Z4 Roadster that just popped up in ads for a new Fairfax County condo?Go here to see the ad for yourself.
"'Ask how to receive a FREE BMW Z4 Roadster or 325i,*' says the ad in newspapers and on the Web for Legato Corner, a six-building complex being built near Fair Oaks Mall by Texas developer Fairfield Residential LLC.
"Builders are using more incentives in a softening market, but a car is a rarity. It's 'definitely different, and much more eye-catching than just saying 'no condo fees for a year,"' said Tim Liu of condo guide DClofts.com.
"But hold your horsepower. Developers of the 202-unit complex aren't actually giving away the $38,000-and-up sports car or its $32,000-and-up four-door cousin. Buyers of two- or three-bedroom units get a free two-year car lease, according to a sales representative who said she was not authorized to comment publicly. Two-bedrooms start at $356,900 and three-bedrooms at $408,900, according to the complex's Web site.
"While that's not quite the same as getting a Beamer, it's nothing to be sniffed at. BMWs lease for around $400 a month for 30 or 36 months, with a $2,500 down payment plus taxes and tags, said Alberto Zamorano, a salesman at VOB BMW in Rockville.
"No word on whether Legato Corner's sales have gone into overdrive. Sales staff members deferred questions to marketing company McWilliams/Ballard, which did not return calls seeking comment."
I guess it boils down to this: spend money you don't have to get a free lease on a car you can't afford.