Oprah's Little Car Giveaway, causes Tax nightmares - Page 2

AnnieMei · 09-24-2004, 12:59 AM

Quote:

Originally Posted by mercutio80

Ding ding ding!!

I swear. People win the fucking lottery and still manage to find something to bitch about.

Of course, all these people were in some sort of financial problems. They may not be able to get a loan even with collateral like that.

bzt bzt bzt

If they couldn't go out on their own to get a loan for a car on their own, what makes you think they'll be able to get a loan for $7 k? They were on the show because they "needed" a new car, but couldn't afford one (or what their friends, family thought they couldn't afford one)

falco · 09-24-2004, 01:02 AM

Yeah now they can sell it and have $25K to blow away. You must be a liberal.

AnnieMei · 09-24-2004, 01:03 AM

Quote:

Originally Posted by Rascus

How can a 2nd/3rd hand car be BETTER then a brand new car

Ever buy a car from grandma/grandpa who only uses it to go shopping or doctor? That's how i scored a near perfect condition 91 CRX SI . It only had 3,000 miles on a car that was nearly 7 years old. It was one of the best cars I ever bought and less problematic. Though, i wish i went ahead and bought their 67 Mustang in the process (original interior, 60,000 miles on original engine - that car was sweet)

Our current car is a 2nd hand car (CRV). Had all of 2,000 miles on it, and nothing wrong with it.

AnnieMei · 09-24-2004, 01:04 AM

Quote:

Originally Posted by falco

Yeah now they can sell it and have $25K to blow away. You must be a liberal.

No, just a realist. That car is now only worth $21,000 (you know something called depreciation).

Rascus · 09-24-2004, 01:06 AM

Quote:

Originally Posted by AnnieMei

Ever buy a car from grandma/grandpa who only uses it to go shopping or doctor? That's how i scored a near perfect condition 91 CRX SI . It only had 3,000 miles on a car that was nearly 7 years old. It was one of the best cars I ever bought and less problematic. Though, i wish i went ahead and bought their 67 Mustang in the process (original interior, 60,000 miles on original engine - that car was sweet)

Our current car is a 2nd hand car (CRV). Had all of 2,000 miles on it, and nothing wrong with it.

Well you were a lucky one to find a car like that. But the odds of finding cars in that type of condition is very rare

falco · 09-24-2004, 01:12 AM

Quote:

Originally Posted by AnnieMei

No, just a realist. That car is now only worth $21,000 (you know something called depreciation).

Please, I know american cars depreciate like crazy, but you take a brand new car with zero miles, dealers are selling these things fast at and above list. Advertise a tiny bit and would sell in days for $25 or more. It still has the same warranty that the dealer has to honor as if you bought it from them. If I wanted that car new it would be a hell of a deal to pay 26,000 its still new and warrantied.

snigg · 09-24-2004, 09:05 AM

damn liberals. bitching about being given a 28thousand dollar car, wtf?

RACER X · 09-24-2004, 09:22 AM

Quote:

Originally Posted by AnnieMei

bzt bzt bzt

If they couldn't go out on their own to get a loan for a car on their own, what makes you think they'll be able to get a loan for $7 k? They were on the show because they "needed" a new car, but couldn't afford one (or what their friends, family thought they couldn't afford one)

chances are if you went to the bank, even w/ bad credit. and asked for a $7k loan for a new $30k car.....they'd take it up. what do they have to loose vs. what they have to gain......a tidy profit if the loaner balks.

evils-03-RR · 09-24-2004, 09:23 AM

Shit I'll give em 7K for the car, just tell me where to sign.

Nostradumbass · 09-24-2004, 09:39 AM

Quote:

Originally Posted by Rascus

How can a 2nd/3rd hand car be BETTER then a brand new car

Easy. The new car is a Pontiac.

mercutio80 · 09-24-2004, 09:40 AM

Quote:

bzt bzt bzt

If they couldn't go out on their own to get a loan for a car on their own, what makes you think they'll be able to get a loan for $7 k? They were on the show because they "needed" a new car, but couldn't afford one (or what their friends, family thought they couldn't afford one)

I see your point. I even mentioned that in my post.

I still imagine a bank would be willing to give the loan. Like Racer X said, they really have nothing to lose. I guess the biggest concern would be that these people make enough money to be able to pay out on a 7 thousand dollar loan. But what kind of payment would a five year loan for 7 grand be? It should be less than 160 a month.

svbrian650s · 09-24-2004, 10:13 AM

$28,500 seems a little steep for a pontiac G6

RbbrDckyBK · 09-24-2004, 02:24 PM

I can't believe people are calling this a "tax nightmare". Jeez, if they don't want to (or can't) get the $7,000 loan to pay the taxes, sell the car for $25K, pay the $7K in taxes, and buy a brand new Accord with the $18K leftover. It's not rocket science.

rusaccord · 09-24-2004, 04:11 PM

Or Oprah could have sold the cars to each of them for a dollar each.

RhythmsDJs · 09-24-2004, 04:19 PM

There was a story on the news this morning, there's a dealer in New York talking about the tax issue. They said, on camera, if you can't afford the tax, they will buy the car from you, for almost MSRP. Apparently they have so much demand for the G6 they can't get enough of them. So there's even an easy solution. I know, that even living in WI, if I stood to make $20k or so I would drive to NY and take a plane back if it's that easy.