Just thought I would jump in and add my two cents- for what it's worth- you only have to pay the fair market street value on the car, on your taxes, and not the sticker value, if you keep/kept the car. So, in other words, if the declared value is $40k, and you keep it, and you can show with current newspaper ads, in your market area, that the current value is ony $34k then you only have to pay taxes on the $34k. Good luck. (and keep that documentation!!!)
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From: joel0457 <joel0457@yahoo.com>
To: "vpFREE@yahoogroups.com" <vpFREE@yahoogroups.com>
Sent: Sunday, November 25, 2012 10:15 AM
Subject: [vpFREE] XVP: Selling a Won Car Back to the Dealer
Hi,
Last night I won a new Lexus at a local casino. You earned 1 entry for every $20,000 coin in of VP and I had 7. It was amazing when they called my name. In 20+ years of gaming and hundreds of drawing I had never won anything close to this.
My question is had does anyone have experience with winning a car and then selling it back to the dealer? Is there any negotiation or is it take what they offer. I asked the person in charge of the drawing if I would do better than the casino cash offer if I sold it back to the dealer directly and he said yes. fyi, the casino was offering me 23K less then the value on the prize form.
Thanks for any info.
Joel
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