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Atomic Wanderer Chicken

Lady loses $92,000 Porcshe on Price is Right

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Entertainment at it's best.

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I don't blame her. Games shows love to advertise that they give "free" cars or stuff away. But what they don't advertise is that contestants still have to pay taxes on those items. In the case of a vehicle, they have to pay taxes, registration fees (differs by state), and probably insurance too. Excepting a $92,000 Porche is probably an expense that most people on game shows can't afford.

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Well she gave up the chance of winning the Porche.

 

You act like she knew she was going to when, when in fact, she did not. So she took the safe bet.

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Its still a Porsche, the taxes may be high for it, but she could sell it if she wanted.

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She took the sensible option, greed didn't overcome her. I'd have done the same if I was put in that situation. She went home with a lot more than she started the day with.

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Its still a Porsche, the taxes may be high for it, but she could sell it if she wanted.

 

There's probably some clause which prohibits that for a set period, with some penalties being incurred for selling after x, y & z years.

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Its still a Porsche, the taxes may be high for it, but she could sell it if she wanted.

 

Taxes would be 20k to 30k.. you going to loan it to her?

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I don't blame her. Game Show prizes are notorious for being white elephants.

 

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Well she gave up the chance of winning the Porche.

 

You act like she knew she was going to when, when in fact, she did not. So she took the safe bet.

Sorry, I can't view the video at work. I just assumed the thread title meant that she won but refused to accept it.

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Taxes would be 20k to 30k.. you going to loan it to her?

I don't think they are that high.

There is a 50/50 chance of winning. The stakes are high, and likelihood of winning the Porsche could be slim. That's what comes with playing a game. Nevertheless, I did a face palm at the end.

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I don't think they are that high.

There is a 50/50 chance of winning. The stakes are high, and likelihood of winning the Porsche could be slim. That's what comes with playing a game. Nevertheless, I did a face palm at the end.

 

They are pretty high, you have to pay taxes up-front and I think part of it is covered under a games/winnings tax on top of state income tax, in California

 

 

 

Another TPIR winner told Consumerist, "I won $57,069 worth of items. I had to pay around $17,000 or $20,000 in taxes, but I'm not 100 percent on that, I tried not to pay attention."

Source: http://www.accountingweb.com/article/can-you-afford-free-taxes-spoil-game-show-win/222376

 

And this was hardly a 50/50 shot at winning, have you ever watched that specific game on the show?

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She said she watched the Price is Right all the time, so she probably knew that was the best thing to do.

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she is better of as it would have cost her probably $10 or more in taxes to actually get the car.

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Good for her :D She seems like a nice lady

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She took the sensible option, greed didn't overcome her. I'd have done the same if I was put in that situation. She went home with a lot more than she started the day with.

 

I'd done the same thing myself.

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Not winning a nazi car is always a good thing. :)

You just had to go there didn't you... :no:

 

 

I think she made the right choice - brand of car aside.

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Holy Smart a smart American! Plus who knows they could have rigged the winning numbers just because she didn't go for it.

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I don't blame her. Games shows love to advertise that they give "free" cars or stuff away. But what they don't advertise is that contestants still have to pay taxes on those items. In the case of a vehicle, they have to pay taxes, registration fees (differs by state), and probably insurance too. Excepting a $92,000 Porche is probably an expense that most people on game shows can't afford.

So take it and flip it. You make out big then.

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Video no longer works :(

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Yeah Video No Longer works :-( But thats terrible. It should be like here, The Taxes are already paid on the object when bought i.e By the TV/Production company.

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There is a 50/50 chance of winning.

Actually, her chance of winning that Porsche was 1 out of 16.

 

 

I saw this 'live' on TV.

 

Nothing really new about someone 'losing' an expensive car.

 

Remember, the car winner is responsible for some hefty taxes on the big prizes.

 

She may have had to pay 30 to $40,000 on her prize car.

 

She likely would have had to sell the prize, to deal with tax.

 

Not to mention Insurance.

 

This may be the half-conscious reason they flub up. ;)

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Hello,

Can someone put a link up the the video please? :)

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^ Read my post above ^

 

Today's Dream Car is a BMW convertable. :p $87,000 !

 

The golf pro WINS !!! :D :woot: :cool:

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