GT-R raffle

Jeffblue · 09-30-2010, 04:28 PM

OR, do an ENGINE SWAP

and then part out the rest. Ruin the car, but build an awesome Z

Jeffblue · 09-30-2010, 04:30 PM

so, it seems like the general consensus is its OK to sell a sports car you win as long as you put some of the money towards making your car better. NOT if you sell it and buy a family sedan or more practical car.

daleks · 09-30-2010, 04:33 PM

Quote:

Originally Posted by Jeffblue

so, it seems like the general consensus is its OK to sell a sports car you win as long as you put some of the money towards making your car better. NOT if you sell it and buy a family sedan or more practical car.

I'd trade it for a MY2012 edition, or a Dodge Caravan.

Jeffblue · 09-30-2010, 04:34 PM

Quote:

Originally Posted by daleks

I'd trade it for a MY2012 edition, or a Dodge Caravan.

yea those are pretty similar, hard to choose between... i mean you are talking about the Caravan SRT10 right?

xdeslitx · 09-30-2010, 04:43 PM

Quote:

Originally Posted by Jeffblue

so, it seems like the general consensus is its OK to sell a sports car you win as long as you put some of the money towards making your car better. NOT if you sell it and buy a family sedan or more practical car.

It would be very difficult for me to sell it though. I've been wanting a GTR since I was 17 (I'm 26 now).

daleks · 09-30-2010, 04:45 PM

Quote:

Originally Posted by Jeffblue

yea those are pretty similar, hard to choose between... i mean you are talking about the Caravan SRT10 right?

I meant the MY1985 Caravan. Hopefully one with wood paneling on the side.

In my mind this is just as ridiculous as selling it and keeping the Z.

optiontrader · 09-30-2010, 04:50 PM

Quote:

Originally Posted by daleks

The expected value of your return on a $50 raffle ticket that's one in 3,000 is $26.67 (assuming $80,000 MSRP with destination), which isn't that bad when compared to other raffles.

Nice calc, daleks!

I know any raffle/lottery is not the most sound financial decision, but I'm a sucker for some of the more unique ones (and if they benefit charity!)...

daleks · 09-30-2010, 06:10 PM

Quote:

Originally Posted by optiontrader

Nice calc, daleks!

I know any raffle/lottery is not the most sound financial decision, but I'm a sucker for some of the more unique ones (and if they benefit charity!)...

Actually, if they only sell 1500 tickets then they may lose money. The actual cost to them of the GT-R matters a lot. It's probably being written off as a donation and so their cost is effectively lower.

MC · 10-01-2010, 04:49 AM

Quote:

Originally Posted by daleks

Actually, if they only sell 1500 tickets then they may lose money. The actual cost to them of the GT-R matters a lot. It's probably being written off as a donation and so their cost is effectively lower.

their actual "cost" on a $84K GT-R is about 76Kish invoice is around 79K

Cunnos · 10-01-2010, 08:46 AM

Quote:

Originally Posted by daleks

Actually, if they only sell 1500 tickets then they may lose money. The actual cost to them of the GT-R matters a lot. It's probably being written off as a donation and so their cost is effectively lower.

Yea they sell one car a year to the charity.....all the details are listed on the site. They prolly get a nice tax break doing this type of stuff......i hope i win this.....everyone says I should sell the car if I win.....someone at my work said I would have to pay a huge tax on this car if I won it??? Not the excise tax but the actual tax for winning the car, does anyone know anything about this???

ChrisSlicks · 10-01-2010, 09:10 AM

Quote:

Originally Posted by Cunnos

Yea they sell one car a year to the charity.....all the details are listed on the site. They prolly get a nice tax break doing this type of stuff......i hope i win this.....everyone says I should sell the car if I win.....someone at my work said I would have to pay a huge tax on this car if I won it??? Not the excise tax but the actual tax for winning the car, does anyone know anything about this???

Yes, the Federal Tax law states that the prize is to be considered income, so it gets listed on your 1040 return. For big prizes (usually cash prizes) they withhold 25% on your behalf and make that payment to the IRS for you. For an expensive car like this it would cost you $20K to keep it, and another $5K to register it in MA. So your "free" car ends up costing you almost as much as a new Z. Still beats paying $80K.

09-30-2010, 04:28 PM	#16 (permalink)
Jeffblue A True Z Fanatic Join Date: Dec 2009 Location: NY Age: 36 Posts: 9,192 Drives: Z32TT & 335xi Coupe Rep Power: 37	OR, do an ENGINE SWAP and then part out the rest. Ruin the car, but build an awesome Z

09-30-2010, 04:30 PM	#17 (permalink)
Jeffblue A True Z Fanatic Join Date: Dec 2009 Location: NY Age: 36 Posts: 9,192 Drives: Z32TT & 335xi Coupe Rep Power: 37	so, it seems like the general consensus is its OK to sell a sports car you win as long as you put some of the money towards making your car better. NOT if you sell it and buy a family sedan or more practical car.