Want TWELVE (12) brand new cars?

[Slvrtg277]

Originally posted by: CheapArse

Originally posted by: Siva

Originally posted by: CheapArse

Originally posted by: Siva
I can't afford that taxes on that ish. I would sell them but then probably have to pay more taxes on the money I made from that.

What a waste of the contest, it'd be smarter to just give away $250,000. I'll buy myself 1 car and save the rest for something worthwhile.

huh? How are taxes for 12 cars going to cancel out the profit from the sale of those cars?

I didn't say it would cancel out the profit, I'm just saying you wouldn't get nearly as much as if they were just giving a cash prize.

Im pretty ignorant about taxes, but wouldn't they just tap you on income tax from the sale of the cars? Which would be the same as if you just got cash?

That's what I thought also. The cars worth would just be taxable income, so you'd pay (what is it, 32% ?) tax on them.

So you'd sell maybe $96,000 worth of cars and be ok right? Hell I dunno.....

 

[ThePresence]

Originally posted by: CheapArse

Originally posted by: Siva

Originally posted by: CheapArse

Originally posted by: Siva
I can't afford that taxes on that ish. I would sell them but then probably have to pay more taxes on the money I made from that.

What a waste of the contest, it'd be smarter to just give away $250,000. I'll buy myself 1 car and save the rest for something worthwhile.

huh? How are taxes for 12 cars going to cancel out the profit from the sale of those cars?

I didn't say it would cancel out the profit, I'm just saying you wouldn't get nearly as much as if they were just giving a cash prize.

Im pretty ignorant about taxes, but wouldn't they just tap you on income tax from the sale of the cars? Which would be the same as if you just got cash?

Yeah, probably. But taxes on prize winnings are insane.

 

[jpeyton]

Be prepared to pay about 1/3rd to 1/2 the cars value in taxes. I know I don't have $100k lying around.

 

12 GM's to choose from.... how GREAT!

 

[Josh]

Pretty good contest i'd say. Regardless of the fact it's GM, you still get 12 cars for free!? New Corvette..mmmm.. and a fleet of cadillacs...mmm...

 

[nakedfrog]

I wonder if they'd just give you the freakin' cash alternative.

 

[Regs]

Originally posted by: franksta
Isn't MasterCard also giving away my personal information?

lmao, good one.

 

[Regs]

Originally posted by: nakedfrog
I wonder if they'd just give you the freakin' cash alternative.

I wouldnt be surprised if those 12 cars came with 5 foot long side panel decals.

 

[Ktulu]

Any body actually read the terms and conditions

It doesn't sound like you can actually sell the cars, only give them away

 

[sciencewhiz]

Originally posted by: nakedfrog
I wonder if they'd just give you the freakin' cash alternative.

you must spend a minimum of 240k on cars, and they will give you the difference between the price of your cars and 360k. It's also up to 12 cars, also with a maximum of 30k per car. You'd be best off spending 240k and using the rest for taxes, although you will probably still need to sell some.

You can't get a 'vette for under 30k, can you?

 

[puffpio]

the rules say you can buy UP TO 12 cars (you can buy less) and the total value has to be between $240,000 and $360,000 and they gve you the difference as a check

so you buy cars up to $240,000...get the check for $120,000....of course half of that will be taken as prize tax or something so you have $60,000...sell all the cars you aren't interested in + the $60,000 and that can be used to pay for the prize tax on the $240,000 worth of vehicles you won

 

[Siva]

Originally posted by: sciencewhiz

Originally posted by: nakedfrog
I wonder if they'd just give you the freakin' cash alternative.

you must spend a minimum of 240k on cars, and they will give you the difference between the price of your cars and 360k. It's also up to 12 cars, also with a maximum of 30k per car. You'd be best off spending 240k and using the rest for taxes, although you will probably still need to sell some.

You can't get a 'vette for under 30k, can you?

Oh nice

If you give the cars would you be taxed for that, or would the person you give it to be taxed?

 

[Brutuskend]

What if you ain't got no stinking mastercard?

 

[suicidalpigeon]

what are the chances of winning exactly?

 

[ThePresence]

Originally posted by: Brutuskend
What if you ain't got no stinking mastercard?

No soup for you!

 

[Brutuskend]

Originally posted by: ThePresence

Originally posted by: Brutuskend
What if you ain't got no stinking mastercard?

No soup for you!

bastards

 

[mAdMaLuDaWg]

Originally posted by: wafflesandsyrup
what are the chances of winning exactly?

You have a better chance of being striked by lightning, run over by a car, and have an airplane fall on you at the same time.

 

[mitaiwan82]

Yay credit card debt!

 

[cavemanmoron]

Originally posted by: ThePresence
Link is FIXED. Settle down folks.