On New Year's Eve Eve I was picked for a drawing during the VIP party at the casino. I had a 1/6 shot at a $57,000 2018 Mercedes Benz GLE SUV and a 5/6 shot at $1000 cash. Each of us picked an unmarked envelope in the order we were drawn. We then opened them at the same time.
Someone went home very happy. They had a choice of dealership credit of $57,000 (no refunds at dealer for spending less) or $40,000 cash at the casino (70% of car value).
How would you evaluate the two choices? The dealership is a pretty large International group - Honda, Toyota, Porsche, Mercedes, Jaguar, Maserati, Audi.
At that ratio I'm taking the cash. Taxes on an extra $17,000. Dealership going to charge you closer to sticker price because they know you have to spend it there. And then the hassle of reselling. Do you just give the keys to some random person that shows up at your house wanting to test drive your undriven $60,000 car? And it was around -5F outside that week, screw that.
What say you?