So, the odds of winning a new GM car, truck or SUV in the "Hot Button" contest are 1 in 3000. These are VERY good odds. Take your wife and the odds are 1 in 1500. Very, very good odds, worth stopping in. Nate
[Using the voice from the young singing prince in Monty Python and the Holy Grail]: "But... but, I don't want one!" "I just want... to sing...."
0% financing, Hot Buttons...how many other gimmicks can GM think up to try to unload their behemoth dinosaurs.
Re: Win a GM car! "Hot Button" odds are spectacul Yes, don't actually BUY one of these cars. Just take the free one, sell it, and use the money towards a Prius. Don't fall for "winning" the bonus cash, either. I think everybody "wins" that. Nate
Re: Win a GM car! "Hot Button" odds are spectacul I was thinking the same thing, but then I wondered would you able to sell one of those things for more than the tax you you'd have to pay for winning it. :lol:
Re: Win a GM car! "Hot Button" odds are spectacul Just an FYI, you would be legally allowed to declare only the realized gain; that is, the price you sold the car for. If you kept the car, you would only have to pay income tax on the actual value; so if you win an Impala with a sticker price of $20,000, and carsdirect.com will get you one for $17,000, then you only need to pay income tax on the $17,000. This applies to any winnings. If you think the declared value (decided by the entity that issued the prize) is too high, a tax attorney will re-evaluate the winnings for you to their actual value. So, everybody play! We should get some winners on this forum! Nate
Re: Win a GM car! "Hot Button" odds are spectacul Good point re the actual (fair market) value of the prize. However, I would suggest making a sincere effort to discuss the FMV with the entity awarding the prize before a 1099-MISC gets issued. If the amount they report on the 1099 doesn't match the amount you report on line 21 of your 1040, you'll probably have some 'splainin' to do.
Re: Win a GM car! "Hot Button" odds are spectacul Just read the following: POTENTIAL WINNING PARTICIPANTS ARE NOT GUARANTEED A SPECIFIC VEHICLE MODEL OR FEATURES, REGARDLESS OF WHICH SPECIFIC VEHICLE IS USED TO PLAY THE GAME.....Of the total available vehicle prizes approximately 67% will be Chevrolet, with a minimum Manufacturer's Suggested Retail Price (MSRP) of $11,910; approximately 12% will be Pontiac, minimum MSRP $21,300; approximately 3% will be Buick, minimum MSRP $23,495; approximately 1% will be Cadillac, minimum MSRP $30,885; approximately 8% will be GMC, minimum MSRP $16,060; approximately 0.3% will be HUMMER, minimum MSRP $31,800; approximately 8% will be Saturn, minimum MSRP $11,995; approximately 0.6% will be Saab, minimum MSRP $23,685. I was thinking of stopping by my local Saab dealer after I saw the favorable odds.........not any more, though.
Perhaps in time, GM's dinosaur cars will turn into crude that can be used to fuel their other dinosaurs. :-D
Not one to butt in... OK... I *AM* one to butt in... BUT, I can't imagine any Yahoo can waltz in off the street and simply press the button. There has to be some level of annoyance in dealing with a salesperson, filling out forms or other personal documentation. Kinda like all those "Free Theme Park Tickets" signs seen anywhere in Orlando. You know a time share sales pitch is involved that won't be worth the trouble.
We played the hot button game last year, just for the heck of it. They only allow one entry per household so bringing a spouse won't do you any good. Yes, you do have to deal with a salesperson. Fortunately we knew the guy so he didn't give us much hassle and just let us play the game. It's kind of annoying if you ask me. Oh well. We're Toyota drivers now anyway. I don't think I'd want to go back to GM.
Re: Win a GM car! "Hot Button" odds are spectacul I just wanted someone to win a new GM car and trade it in for a Prius. I thought that would be great. There are enough people on this forum that if everyone does it, we should see a winner... Nate
Re: Win a GM car! "Hot Button" odds are spectacul I wouldn't mind winning a GTO! I'd keep it... purely for... uh... research into how destructive a 400hp couple can be to the environment... uh... Research.
For $11k, it'll likely be a Chevy Aveo, aka the Daewoo Kalos before GM bought out the bankrupt company.
Did you hear about the promotion where GM gave an Aveo for free to whoever bought their full-size SUV? Apparently, the incentives were so large that it was almost the equivalent of a new Aveo so they gave an Aveo away instead of a cash back.
