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?
Quote: BTLWIOn 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?
Cash.
Cars, are just an expense and a terrible investment. Unless you really need a new car the cash is the only logical option.
But, yeah, I would take the cash.
If the casino is offering $40k in FP and it can be used on VP, I'd take the FP.
If I could get away with getting 2 cars and paying less in taxes and possibly selling both (or 1 car) for $45k cash or more, then I'd probably do that too. I also do not support tax evasion, however, I think it's basically criminal that they can retax the same vehicle over and over on used sales. Thus, while I might not do it, I wouldn't care if someone else sold their "$20k" car for "$1k" because it was a "close family friend" or something.