Blade Runner
Enthusiast
It's about eight weeks till the drawing for the Comp Coupe. It is just a fantastic car. The question is do you keep it and pay the tax on it or sell it and take the cash.
Sell or keep the VCA raffle car?
- Thread starter Blade Runner
- Start date
Joseph Dell
Enthusiast
Keep it... drive it... then sell it if you ever get bored. what was your investment? $100? $1000 if you bought 10 tickets? i say keep it!
JD
JD
SNKEBIT
Enthusiast
plus 50-60k in taxes
Joseph Dell
Enthusiast
details...
JD
JD
Brian 95 RT
Enthusiast
I would sell it because I couldn't afford the taxes on it. With federal and state income tax, sales tax, gaz guzzler tax, and registration fees - that equates to about 50%-60% of the car's fair market value! And since it's not street legal, I don't go to the track enough to justify it.
MoparMan
Enthusiast
I'd have to sell it as well because of the taxes and the cost involved with racing it. As long as I could net enough to pick up a new street Viper I'd be good with it.
Chuck 98 RT/10
Enthusiast
I can't afford the taxes and I can't afford to race it. But I'm going to race it anyway.
What cc are you winning? Is there another raffle I don't know about?
What cc are you winning? Is there another raffle I don't know about?
ROCKET62
Has Left the Room!
After I win the CC, I would have to look into the possibility of starting a CC owners club. Membership would pay for the taxes, maintenance, insurance, legal fees, etc. and allow the members the opportunity to track one awesome beast!
Hoosier Daddy
Enthusiast
I don't believe there would be any sales tax. No VIN = no registration from DMV which would be the organization that would collect the sales tax.
ByteMe
Viper Owner
What I am wondering is if there are some certified buyers out there for this car. I have heard there's a waiting list for the CC. Is that true?
Chuck 98 RT/10
Enthusiast
Not sales tax, income tax.
Last I checked earlier this year there were two cars available for delivery to whoever came up with the cash.
FikseGTS
Enthusiast
I've entered into every raffle they have had so far, I'll buy a ticket for this one also, but I would have rather have them auction off a street car.... I bet the winner of this car won't keep it.... most are not setup for keeping this kind of car.... maybe they built to many of these and this was an easy way to move one...
ViperRay
Enthusiast
They have my $125.
And yes I would track it.
And yes I would track it.
DodgeViper01
Enthusiast
I've entered into every raffle they have had so far, I'll buy a ticket for this one also, but I would have rather have them auction off a street car.... I bet the winner of this car won't keep it.... most are not setup for keeping this kind of car.... maybe they built to many of these and this was an easy way to move one...
I agree. I do not see many with the bank accounts to keep a car like this. I mean after nearly $75,000 in taxes, not many can afford to write that check. I think most likely this car is going to go up for sale and the buyer is going to get a very nice deal.
Chuck 98 RT/10
Enthusiast
75K? What's the value of the CC? I was figuring 150K.
Blade Runner
Enthusiast
I think 150K is whats listed as MSRP. The Federal and State tax on that much could approach 40+%. It would be considered income, like winning the lottery.
Chuck 98 RT/10
Enthusiast
Oops. I forgot. You poor guys with state income tax. My heart goes out to ya. You gotta do something about that.
Not to worry, the fed tax is the brunt of the total. Not too sure of the sales tax impact either since it does not get registered. But fed & state income taxes + sales tax could push it over 50% of a value provided (not just the car but of all of the extras). That will probably push it up to 80-90k for many of us
Chuck 98 RT/10
Enthusiast
I thought max fed rate was 37?
DodgeViper01
Enthusiast
Yeah I figured on $150,000. About40 something percent for state and sales tax. Sux. Gotta have money to win LOL!!!
DodgeViper01
Enthusiast
Yeah I figured on $150,000. About40 something percent for state and sales tax. Sux. Gotta have money to win LOL!!!
DrDJ
Enthusiast
I'd sell it for sure. How often would the average Viper owner track a Comp Coupe? Once or twice a year? Then you have to figure in the extra cost of expanding your garage space to house the car in a presentable way. One expensive toy that doesn't get a lot of use is enough. Of course if I won the Megamillions lottery in addition to the raffle, I'd keep the car. 
IEATVETS
Enthusiast
Sell it!! I have cars to drive(except one) and if I can't drive it on the street, then I don't want it.
Gerald Levin
Viper Owner
I faxed in my raffle ticket info a couple weeks ago (with charge card info) and have not received my ticket. Anyone here receive their ticket yet? And yes, this would be sold in a New York minute the way I sell all my stuff. I would sell it quick and cheap. Some people like to sell for retail and handle the 100+ tire kickers. Not me, sell cheap and sell fast. In fact, I'd probably put it on ebay for $1 no reserve and let the best man win.
Yeh, something like 38%. But add 6% state (at least here
), 6% sales and you got 50%. Note also the values for raffles tend to be WAY over valued. That means full list price for everything (car, tires, wheels, suit, lessons, track day support, etc) which I would venture will add up to 170-180k. 50% of that is a Viper all by itself!
