What would you da? Vehicle or 25% less cash (thinking Omaze)

wishuponastar

wishuponastar

Well-known member
Sweepstakes Plus Subscriber
No, I haven't won, just in case anyone might think that from my title. I was just wondering what would be the wiser choice in situations like this.

Take the vehicle then sell it?
Or take the cash?

To me the straightforward answer would be take the cash. Pay the taxes, keep the rest.
But suppose one took the vehicle and then sold it (many of their vehicles would appeal to collectors). In the end, would you be ahead of the game (have more left than you would have if you had taken the cash) or would you end up with less?
 
Tough question. After some thought I would say unless you love the car the cash options would be easiest and safest.
 
Based on my limited experience, take the cash. I won a motorcycle once (no cash option). I was required to register first (possibly state regulation) and pay sales tax. Also had to pay commission to the person selling it, federal and state income tax. Still came out with a good junk, but WAY less than the bike was valued at.
 
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