Found this raffle for a 2021 Prius Prime. I'm not affiliated with them. Won a car before on a raffle like this so I took a chance and bought a ticket. Only 500 Tickets. 2021 Prius Raffle | SWEC Steve
Curious, who pays the state and local taxes and can the winner claim the Federal and other (if applicable) tax credits? Not sure I’d want to win something I’ll need to turn around and sell just to pay the taxes. Kind of like winning something on a game show.
From the linked website, "With only 500 tickets being sold at $110 each, you’ve got a great chance to win." This means if they sell all tickets, they will receive $110x500=$55000. That's close to twice the MSRP of the PP LE. I suppose they got a corporate sponsor who donated this car to be ruffled. So, most of them are free money to this Southwest Environmental Center. If you believe in their environmental agenda, it would be a win-win proposition. I wonder, if I buy a ticket and win, do I have to travel to NM to pick it up? LOL
Not sure about the tax credit. My feeling is that the winner is NOT entitled to the fed credit. But from the linked page: Winner is responsible for license, title and all applicable taxes (including the withholding tax). Raffle tickets are not tax-deductible.
Ok. Would you buy a brand new car for about 22% of the sticker? And last time I won a $36,000 car. My effective tax was $4500 bucks. not to shabby
Don't those fees also apply to used cars? The tax credit is for new cars, so the question is has this Prime been registered with someone besides a dealer. If it is technically a used car that can't get the credit*, then its taxable value will be lower. *When proposed, the $7000 tax credit extension included a $2000 credit for used plug ins. I haven't checked if that actually made it into the law.
no brainer if you support wildlife in the southwest. if not, you have to weigh it all out vs the current deals for those in the northeast, but it sounds like a pretty good deal.
