Well, tomorrow PCA announces my name as winner of the raffle and I'll have a new Porsche coming my way...
What to do??? What to do????
Should I keep the one that I win or sell it and keep my old 911?????

 

What do you have now and what did you win?

 

yeh...that would help us, help you...

 

I wouldn't rush to sell anything yet.. I have it on good word that my name will be drawn tomorrow...

I've already made an appt with my cardiologist.. I'm going to need it..

 

Years ago on the same day i bought a car the salesman was also going to deliver a raffle winner's car. He told me that the guy who won it was baffled as to what to do. It was just a random guy who paid the 50 bucks because he lthought the charity was a worthy cause and never dreamt he would win.
After he won he was trying to figure out if he could afford the insurance and taxes (very high - similar to the lottery I think).

In short -if I recall correctly the winner had to cough up 25K to get the free 80K car and he didn't have it .. and the entire thing was stressful .

The salesman said he was seriously thinking about selling it. I don't know how it ever turned out . That saleman retired and it was over 10 years ago but i do wonder about it when I read yoir post.

 

Good news ..not only is the prize a 2011 Carrera GTS, it includes 25K cash (one assumes to cover those taxes)

..or $75K cash

I'll take the GTS

http://www.pca.org/LinkClick.aspx?fi...s%3D&tabid=336

 

Taxed at short term capital gains, I guess, which is your normal tax rate - up to 35% on the car and cash combined (less $50) - could be as high as $50K? So you could actually owe less tax just taking the car - maybe donate the $25K cash to charity?

Still, I'd figure out a way to deal with the taxes.

 

Knew one of you would show up before long

Ditto!!!

 

I sent my check and entry fee in and never received a confirmation of my entry nor did I received the check back signifying they had already sold out of tickets.

No doubt I would take the car.

 

Sorry guys I have the winning ticket, we will see!

 

Come to think of it I didn't receive confirmation either????

 

Wouldn't the raffle tax be on the cost of the car rather than on MSRP ?
Winner has to pay sales tax and income tax (depending on the winning state) . By the time one is done paying .. he practically bought a used Porsche outright.

application item 12 --

"12. The winner is responsible for all applicable local, state and federal taxes including all sales, use, luxury and income taxes. All prizes will be subject to federal
tax withholding of 25% or the then applicable rate in accordance with the requirements of Federal law. "

 

I did not receive confirmation either until I called PCA and promptly received an email.

Damn, I had already spec'd out my new GTS about 20 times.

 

Pretty sure I'm going to win.
I did receive a confirmation email.

I'll take pictures of the deliver for you all.

 

You guys are lucky I missed the deadline... it would have been mine! Can't wait to find out if a forum member actually does win.