I won a car this week in a casino drawing. It is the base model
Chrylser 300. The casino says they will give me $17,000 cash or the
car. The car cost the casino $21,583. So if I take the car, I will get
a 1099 misc for $21583. The MSRP of the car is about $24,400 with an
invoice of $22,900. There is currently a $750 cash back offer for new
buyers. The online car sites suggest one should try to get the car for
around $23,000 + sales tax. Sales tax on the car would be $1672. (at
$21583 in Nevada)
The casino person said I would not be allowed to sell it back to the
dealer, but I will find out for sure later today.
Anyone have suggestions on what I should do? Anyone ever sell a car
on ebay? Anyone interested in this car? I live in Las Vegas. If I sell
to a Nevada resident, they do not have to pay sales tax. (I pay it for
them) Thanks. TomSki
Winning a car..take cash or the car?
Tom, I'd take the cash. Since you , as an individual, own the car - its a used car - and the value has gone down. Selling cars on Ebay is a bear, and will kill a lot of your time, time that could be spend on winning another car.
congrats once again, and enjoy !
···
----- Original Message ----- From: "TomSkiLV" <tomskilv@yahoo.com>
To: <vpFREE@yahoogroups.com>
Sent: Thursday, September 14, 2006 6:57 PM
Subject: [vpFREE] Winning a car..take cash or the car?
I won a car this week in a casino drawing. It is the base model
Chrylser 300. The casino says they will give me $17,000 cash or the
car. The car cost the casino $21,583. So if I take the car, I will get
a 1099 misc for $21583. The MSRP of the car is about $24,400 with an
invoice of $22,900. There is currently a $750 cash back offer for new
buyers. The online car sites suggest one should try to get the car for
around $23,000 + sales tax. Sales tax on the car would be $1672. (at
$21583 in Nevada)
The casino person said I would not be allowed to sell it back to the
dealer, but I will find out for sure later today.
Anyone have suggestions on what I should do? Anyone ever sell a car
on ebay? Anyone interested in this car? I live in Las Vegas. If I sell
to a Nevada resident, they do not have to pay sales tax. (I pay it for
them) Thanks. TomSki
Oh yeah? That transaction is between you and the dealer. Expect to pay
a $1000-$1500 "restocking" fee in addition to whatever you negotiate
to sell the car back to the dealer.
···
--- In vpFREE@yahoogroups.com, "TomSkiLV" <tomskilv@...> wrote:
The casino person said I would not be allowed to sell it back to the
dealer, but I will find out for sure later today.
_________________________________________________________________________
new articles up at: paladingaming.net
First of all, CONGRATULATIONS. This is not a bad problem to have <g>. If you go to Kelley Blue Book online www.kbb.com, you can put in the specs for the car. I guesstimated the details (basic Chrysler 300 sedan, 100 miles, only standard equipment, excellent condition) and gave them my local zip code. According to their site, the trade in value of the car is $21,175.
I've gotten estimates from CarMax (and sold a car to them), and they base their estimates on Kelley Blue Book data. FWIW, they make it very easy for people to sell cars to them. It was a very positive experience.
You may want to go in to a CarMax and talk to them before making your decision. Then, you should speak with your tax advisor and understand the implications of the decision.
Good luck, and again, CONGRATULATIONS!!!
Lainie
···
TomSkiLV <tomskilv@yahoo.com> wrote:
I won a car this week in a casino drawing. It is the base model
Chrylser 300. The casino says they will give me $17,000 cash or the
car. The car cost the casino $21,583. So if I take the car, I will get
a 1099 misc for $21583. The MSRP of the car is about $24,400 with an
invoice of $22,900. There is currently a $750 cash back offer for new
buyers. The online car sites suggest one should try to get the car for
around $23,000 + sales tax. Sales tax on the car would be $1672. (at
$21583 in Nevada)
The casino person said I would not be allowed to sell it back to the
dealer, but I will find out for sure later today.
Anyone have suggestions on what I should do? Anyone ever sell a car
on ebay? Anyone interested in this car? I live in Las Vegas. If I sell
to a Nevada resident, they do not have to pay sales tax. (I pay it for
them) Thanks. TomSki
vpFREE Links: http://members.cox.net/vpfree/Links.htm
Yahoo! Groups Links
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[Non-text portions of this message have been removed]
Looking at the latest dealer auction figures, I'd say you could
probably get a dealer to give you $19-$20K for it, maybe just a
little over. You could pick up a few bucks that way even after the
extra taxes, if you want to hassle it. This is going to be tricky
because the 2007 models will be out very shortly, and the turnaround
time on this car may make things difficult for a dealer to buy it
even for that.
Tom, I'd take the cash. Since you , as an individual, own the car -
its a
used car - and the value has gone down. Selling cars on Ebay is a
bear, and
will kill a lot of your time, time that could be spend on winning
another
car.
congrats once again, and enjoy !From: "TomSkiLV" <tomskilv@...>
To: <vpFREE@yahoogroups.com>
Sent: Thursday, September 14, 2006 6:57 PM
Subject: [vpFREE] Winning a car..take cash or the car?> I won a car this week in a casino drawing. It is the base model
> Chrylser 300. The casino says they will give me $17,000 cash or
the
> car. The car cost the casino $21,583. So if I take the car, I
will get
> a 1099 misc for $21583. The MSRP of the car is about $24,400 with
an
> invoice of $22,900. There is currently a $750 cash back offer for
new
> buyers. The online car sites suggest one should try to get the
car for
> around $23,000 + sales tax. Sales tax on the car would be $1672.
(at
> $21583 in Nevada)
> The casino person said I would not be allowed to sell it back to
the
> dealer, but I will find out for sure later today.
> Anyone have suggestions on what I should do? Anyone ever sell a
car
> on ebay? Anyone interested in this car? I live in Las Vegas. If I
sell
> to a Nevada resident, they do not have to pay sales tax. (I pay
it for
···
--- In vpFREE@yahoogroups.com, "tomflush" <tomflush@...> wrote:
----- Original Message -----
> them) Thanks. TomSki
>
>
I won a car this week in a casino drawing. It is the base model
Chrylser 300. The casino says they will give me $17,000 cash or
the
car. The car cost the casino $21,583. So if I take the car, I will
get
a 1099 misc for $21583. The MSRP of the car is about $24,400 with
an
invoice of $22,900. There is currently a $750 cash back offer for
new
buyers. The online car sites suggest one should try to get the car
for
around $23,000 + sales tax. Sales tax on the car would be $1672.
(at
$21583 in Nevada)
The casino person said I would not be allowed to sell it back to
the
dealer, but I will find out for sure later today.
Anyone have suggestions on what I should do? Anyone ever sell a
car
on ebay? Anyone interested in this car? I live in Las Vegas. If I
sell
to a Nevada resident, they do not have to pay sales tax. (I pay it
for
them) Thanks. TomSki
My advice is to get rid of that junky Scion you have and keep the
Chrysler. LOL.
···
--- In vpFREE@yahoogroups.com, "TomSkiLV" <tomskilv@...> wrote:
If it helps I too won a Chrylser 300 in July. My sticker was $31,500.
When I won it ,the casino gave me the phone# of the dealer. I could
take the car or talk to the dealer about the other options. The
casino had nothing to do with it after that. The dealer was
Integrity. The dealer gave me about 6 different options. I took the
cash. They gave me $26,000 minus the sales tax, my check was for
$23,500. --- In vpFREE@yahoogroups.com, "TomSkiLV" <tomskilv@...>
wrote:
I won a car this week in a casino drawing. It is the base model
Chrylser 300. The casino says they will give me $17,000 cash or the
car. The car cost the casino $21,583. So if I take the car, I will
get
a 1099 misc for $21583. The MSRP of the car is about $24,400 with
an
invoice of $22,900. There is currently a $750 cash back offer for
new
buyers. The online car sites suggest one should try to get the car
for
around $23,000 + sales tax. Sales tax on the car would be $1672.
(at
$21583 in Nevada)
The casino person said I would not be allowed to sell it back to
the
dealer, but I will find out for sure later today.
Anyone have suggestions on what I should do? Anyone ever sell a
car
on ebay? Anyone interested in this car? I live in Las Vegas. If I
sell
to a Nevada resident, they do not have to pay sales tax. (I pay it
for
···
them) Thanks. TomSki