Wiseman concept scam

[KimH]

Yes!!! Do you know my uncle? He said he makes all his money from the Wiseman Concept and thats why he can give me a car for free. Hes such a clever man.

That's the same guy,... the car he gave me was a lemon by the way - ended up costing me a small fortune!

[vieome]

That's the same guy,... the car he gave me was a lemon by the way - ended up costing me a small fortune!

I bought a blimp from him a few years ago and it requires a special gas that I cant find anywhere, though he promised me it was available at all fuel stations.

[Scaffold]

Ya, the gas is available at all stations provided you bring the right equipment to transform the petrol to gas. He is so clever.

[vieome]

That is what the singing and dancing petrol attendant told me, but in order to get the equipment I was going to have to sign a foolishman concept contract which I declined, so at the moment I am just using a kite to fly the blimp.

[Dave A]

Time to pick the bones out of these numbers

Ok...here comes my side of the story:
What I am about to show you is not "Wiseman Concept" but to prove to you that "ZERO" does exist!
This is not more than 14 year old mathematics, however the "Wiseman Concept" has been proved 5 x better than the "zero" formula!

The old system:
PLAN A ......A husband and wife saves over 4 years R 150 000 to buy a car for their son.
Currently awaiting the driver licence fiasco they invested the money with Allan Grey @ 10% per year ( Lets talk round figures ) earning R 1250 pm interest.

PLAN B ......A friend with very little financial sense suggest that they leave the R 150 000 in the bank and rather borrow R 150 000 @ 13.2% per year for 20 years.
This friend with little knowledge about anything was treated like an idiot because he suggested to pay R 1650 pm for 240 months and 3,2% more interest! Shame!

EVERY ONE CHOOSE A:
Why? Because it look cheaper!
What you are about to see is that the person choosing (A - cheaper plan ) think with his eyes and ears and not with his brain - many years will result in no brains and bigger eyes and ears, unfortunately the person choosing ( A ) lost R 240 000 in 7 years by listening to his eyes and ears!

So let's take a look at how Plan B works then.

Step 1:
Invest at 10% interest and use the interest to subsidise your instalments.

Step 2:
Take a 20 year bond at 13.2% and apply the extra interest to reduce the bond term. This is the result:



Out of interests sake, I looked at what would happen if we just financed this car over 6 years - and guess what:



Near as dammit the same instalment. So let's not muck around with the "extra payment = shorter term" stuff - it doesn't change how much money you have to chip in yourself, which is pretty much R1777 per month.

So at the end of 6 years on Plan B you've got a paid up car and R150 000.00 invested somewhere earning you 10% interest per annum.

Now let's look at Plan A.

Step 1:
Buy the car cash with your R150k savings.

Step 2:
Invest R1777 per month for a return of 10% per annum, and don't touch the interest. Guess how much you've got after 6 years:



That's right, folks - you've now got a car and R177 344.00 invested somewhere earning you 10% interest per annum.

Plan B lost you R27 344.00 compared to plan A.

And you probably had to pay for the Wiseman Telescopic Calculator's assistance to help you do it

[SilverNodashi]

Time to pick the bones out of these number



So let's take a look at how Plan B works then.

Step 1:
Invest at 10% interest and use the interest to subsidise your instalments.

Step 2:
Take a 20 year bond at 13.2% and apply the extra interest to reduce the bond term. This is the result:



Out of interests sake, I looked at what would happen if we just financed this car over 6 years - and guess what:



Near as dammit the same instalment. So let's not muck around with the "extra payment = shorter term" stuff - it doesn't change how much money you have to chip in yourself, which is pretty much R1777 per month.

So at the end of 6 years on Plan B you've got a paid up car and R150 000.00 invested somewhere earning you 10% interest per annum.

Now let's look at Plan A.

Step 1:
By the car cash with your R150k savings.

Step 2:
Invest R1777 per month for a return of 10% per annum, and don't touch the interest. Guess how much you've got after 6 years:



That's right, folks - you've now got a car and R177 344.00 invested somewhere earning you 10% interest per annum.

Plan B lost you R27 344.00 compared to plan A.

And you probably had to pay for the Wiseman Telescopic Calculator's assistance to help you do it

Dave, you're wrong. You would have been R60,000 poorer and the wiseman guys would have pocketed R60,000....

[Dave A]

Just add whatever you paid them to your losses
But it's plain you're going to lose.

[Perform Computers]

This Mariana is definitely a troll. A waste of my left-click.

Imagine doing business with her. /shudder

[Dave A]

Part of the art of being a con man (or woman) is keeping your attention off the hand that is picking your pocket - whatever that might take (and being a troll is certainly a perfectly viable option).

[Citizen X]

Right this is where I stop. Not much more can be done on our side when it comes to investigations and the like thus I think it is time to get the right entities involved. I do know however if you borrow money at the bank they expect you to pay them back. If you do an overdraft at the bank they expect you to pay them back. Same is true with any home loan, car loan, student loan and private loan.

Regardless of any claims made is a fact that a legally binding contract exist between the customer making the loan and bank. So anything suggesting that you break the contract “unlawfully” must be fully investigated by the entities.

I think the vast majority of TFSA members will be able to correct a little poor customer service by way of free advice, if however a scam is really involved then we not the police or the Hawks. They are the right forum if indeed it's a scam. I personally would never pay for something like that. I have been thinking about the Prof profile, I could refine it you know i.e. I will get you the lotto numbers BUT if your heart was dirty on the day you came to see me, the ancestors may decide to give you the wrong numbers in which case you can't blame me for your dirty heart..The Kings new clothes, the scam artists eventually convinced this king that he was wearing some elaborate garment when in fact he was naked!
Mariana, you not obliged to answer the following questions. I would personally see it as a gesture of good faith. Other members may not necessarily come to the same conclusions:
1. Are there any complaints against you pending with anybody such as the National Credit Regulator and/or the National Consumer Commission ?
2. Are there any criminal charges pending against you as a direct or indirect result of your business activities?
3. Are there any law suits against you in any civil court I.e. is any suing you for breach of contract and/or damages?
4. What was the outcome of any complaints against you that have already been decided upon by the aforesaid bodies in question !.

Mariana, I conclude by saying that I’m not the judiciary nor am I the police! I’m not on trial for murder and neither are you! I’m an ordinary member of our very own South African public! The aforesaid questions are now respectfully put to you. You do the calculation, if they go answered or met with ambiguity, the simple passage of time will be you’re your discredit! I end by saying that if your clientele are happy with perceived benefit as opposed to real tangible benefit that they can see, feel and touch, then I guess it’s their money and between you and them!