Next raffle car?

[Mopar Steve]

Is there a raffle car in the near future? Will the fact that the factory is getting shut down for a while eliminate the possibility for a raffle car to be specifically prepared? Is something already planned and in production or already produced?

A raffle car awarded at VOI 13 would be a neat feature.

 

[Mopar Steve]

Over 100 views and no comments?

 

[ViperJeff]

No one wants to post possibilities in fear of being beat to death when said possibilities don't happen exactly as worded.

Oh and I have no idea, just following along

 

[denniskgb]

i have not got my magazines yet....do not get me wrong i am patient. you see where i am going with this?

 

[gb66gth]

I think we should help one of the dealers move a car sitting on their lot. If they give us a good deal on a T/A we use it. It's a win -win. They move a unit, we get a raffel car.

 

[Mopar Steve]

i have not got my magazines yet....do not get me wrong i am patient. you see where i am going with this?

Discussing speculation on what might be, and the impact of the closure of the factory is different than, "sent today......" Ray Charles could see where that is going.

I like the idea of buying a TA direcly from a dealer, makes sense.

 

[cubican]

In the state of Texas there is a cap on raffles of $50,000.00

 

[viper vince]

Since they cannot sell the 2013 they should be able to get a deal on one.

 

[gb66gth]

In the state of Texas there is a cap on raffles of $50,000.00

Then we should use a dealer outside of Texas.

 

[Nsane1]

Unfortunately, it's not as simple as where the dealer lives, its the State rules around raffles. There are VERY few raffle friendly states, and believe it or not TX is one of the best, that tells you how bad it is. Also, we've spoken to numerous Indian Reservations, all have equally arcane rules.

We even employed a professional firm to find a raffle friendly state, the conclusion: there aren't many, and even those have tough restrictions. So anyone think a T/A will cost 50k in the very near future?

 

[Bobpantax]

If the raffle is limited to 50K. How about a raffle where the prize is a price reduction of 50K to buy the car - a discount coupon? I would buy a $100.00 or so raffle ticket to have a chance to save 50K. If that would work, your problem is solved.

 

[Bonkers]

Except for those of us who cant swing a discounted
$60k car at the moment. If we're not holding the raffle
in Texas, why would the $50k cap apply? Or is that a
winners cap?

 

[Bobpantax]

If they got a good deal on the raffle car, it might only be a 50K car or so with the discount. I was thinking that they first negotiate a good deal for the car and then do the raffle for the 50K coupon. The income tax would only be due on the 50K coupon instead of the entire value of the car. So let's say for discussion sake that the car's cost is 100K. If you won the car, the tax due would be on 100K. But if you only won a 50K coupon, the tax would only be due on it. And, there also could be a bracket reduction depending on your tax bracket to begin with.

If lawful and possible, the coupon should also be transferrable so if someone cannot use it themsleves due to current cash flow constraints, they can sell it to someone else.

 

[GRANGER73]

Can't we go back to Michigan? There didn't seem to be any problems there.

 

[Bonkers]

I was thinking that they first negotiate a good deal for the car and
then do the raffle for the 50K coupon.

I applaud the idea, but the IRS does not discern between "discount"
"appraised value" and "earned income" when dealing with gambling
winnings... youre just gonna have to trust me on that...

But again - if we're not holding it in Texas, why are we concerned with
a $50k cap at all?

 

[Bobpantax]

I agree with your IRS comment. I think you misread what I typed. The 50K coupon, if won, would be ordinary income. The discount on the car purchase price would not be income to the winner. That is just a negotiated purchase price that would have been done by the VCA. Nothing special and no more discount than anyone else would have gotten in this market environment. Part of the discount could be income if the amount of the discount was materially greater than market comparables show was normal at the time of the negotiated deal.

Everyone who negotiates a price with a dealer wo gets a price below MSRP does not realize and recogniz income equal to the difference betwen the MSRP and the negotiated price. Trust me. Title 26, The Internal Revenue Code of 1986, as amended, and the regulations, rulings, CCAs, IRM and case law are very clear on this.

 

[Chelseasnake]

how about a raffle to win a c7 corvette. lol . this way you win a car and is less than 50k. ha ha

 

[steve e]

how about a raffle to win a c7 corvette. lol . this way you win a car and is less than 50k. ha ha

The problem is no one would buy a ticket and each ticket would have to be one dollar. relax all you chevy lovers I am kidding.

 

[Nsane1]

LOL, yes Bob, that's close to the idea...

 

[Mopar Steve]

HEY LOOK! Almost everyone in this thread is a memeber except for Vince and Jeff. Not too long ago almost everyone was an enthusiast.

Nice.

 

[Bobpantax]

No surprise. With the great changes the current Board has made; the magazines getting out; a posted Budget; new Bylaws and policy changes wanted by members; great events like Viper vs Viper and the upcoming VOI; some great threads including Dan's recent highly informative posts regarding suspension components and suspension tuning; the new managemnet of the club and VPA ( VPA is now managed by a twenty year Viper tech.), the VCA is a revitalized and responsive club.

 

[HobokenViper]

How was the raffle able to be conducted without this issue in the past???

 

[Nsane1]

Hoboken -

The Michigan club helped us out in the past. We have broached the topic with them for this year, as we have some ideas for a very special Viper (that costs more than 50k) but I'm not sure that's going to happen quickly; the previous VCA leaders burned some bridges (not related to the previous raffles) with the MI club, and the MI club are (understandably) gun-shy. We hope that through good works we can repair some fences as it were. I should say, that MI club is very important in VCA history, and we are fully cognizant of that fact...

Steve, LOL, thanks for pointing that out, we get renewals everyday, from places you would never consider being VCA friendly (CO and CA are my favorites )

I hope that helps,
Greg