: OnStar Contest Starts Today

03-16-11, 01:52 PM

03-16-11, 04:34 PM
What am I supposed do with the new car once I win it?

03-18-11, 12:43 AM
Keep it for parts..........

03-18-11, 11:22 AM
Do they still have the free onstar promotion going?

Caddy Wagon
03-18-11, 02:31 PM
You don't have to be an Onstar subscriber to enter, just push the button.

If I win, there will be a ZR1 in the garage to keep my V company. :cool2:

03-18-11, 02:36 PM
mrl859, if you win (and that is a very big, big if, considering the millions of people that will enter) you can always sell it.

03-18-11, 03:12 PM
LOL would it be worth it to take the Zr1? Or any large sale car for that matter? If you take the car you get charged full retail price for it via Income/gain. So you would have to pay taxes on that full retail price 135k, "which for some of us would be $54,000 dollars", THEN you have to pay sales tax for that full 135k as well, which in some states is 10% or more, THEN licensing, insurance... Is almost 70,000 out of pocket. instantly just to drive it. :) Just most people probably wouldnt pay to much attention to that at first untill get get that form in the mail.. :)

I believe it would be cheaper for you to just buy one outright for 80k. Used. :) but then again, I guess im going to go out and press the buttons on my cars and see if i win the zr1. LOL

I guess with 12 chances to win i might have a slight chance. That or break a finger trying....

Caddy Wagon
03-18-11, 03:20 PM
If you win, GM also gives you $25,000 cash to help pay for the sales tax. Of course then you are responsible for paying income tax on the MSRP of the car + the extra $25k.

03-18-11, 03:24 PM
LOL yeah i just now read that. That makes it worse! lol

03-18-11, 06:07 PM
So now I'm curious: if you could pick any GM car, what would you get?

03-18-11, 06:30 PM
If you win, GM also gives you $25,000 cash to help pay for the sales tax. Of course then you are responsible for paying income tax on the MSRP of the car + the extra $25k.

Any way you cut it your still ahead.

03-19-11, 06:02 AM
I would get a white V coupe, and sell my thunder gray coupe. With the extra money from the coupe sale (and then some) I'd buy a used M5 for when I have more than one passenger trying to roll. I was going to say right off the bat that I'd grab a new escalade, but I just bought a 2011 Jeep Grand Cherokee Overland.

03-19-11, 06:33 AM
I called OnStar to tell them what color ZR1 I wanted, but they said I had to wait until I won. The nerve of those people!

03-23-11, 09:24 PM
After a brief ride out to dinner, I parked and pressed the OnStar button.
The response was courteous, acknowledging that my entry went on record.
He also pointed out that I may enter two more times.
Taxes are still a calculated percentage, which, when subtracted leaves the larger remainder as money in my pocket. Therefore, when applying my tax bracket percentage of 25% to the Car Price + $25,000.00 (Total with ZR1 to be ~$140,000.00) results in a payment due for Income Tax of $35,000.
Subtracting the $25,000.00 cash results in a real cost for a new ZR1 to me of only $10,000.00 from my pocket.
Of course; plus Sales Tax in Iowa of 7% = $8,050.00; add State Income Tax at %6.00 = $8,400.00; finally at License Fees, Gas Guzzler, etc. for an added financial hit of about $19,000.
Real total is now near $29,000.00 payed for a $115,000 car.
I am still $86,000 ahead, assuming that I can scare up the payments due.
I can sell my 2007 Corvette and have a little money in excess of the total costs.
I can still live with that!:thumbsup:
Unfortunately, this big boost of Income will probably boost my Tax Rate to 35%. :suspense:
Consider the additional taxes, Doctor's visit and medicine for Depression = $$$$$$$$$$$.

03-24-11, 11:17 AM
I really don't understand why some of you are saying it's not worth it and it's better to just buy one used, or that you wouldn't even want the car if you won it (??)

Are you KIDDING?

It's a $125,000 car, PLUS $25,000...

You could turn it around right away and sell it, and even WITH all the taxes you'd have to pay you'd still have a good $75-$90,000 in your pocket.

03-24-11, 11:36 AM
Tax considered I'd go with the ZR1.