TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker and becoming a Supporting Member. For more info: Support TMC
  1. TMC is currently READ ONLY.
    Click here for more info.

If you won the Founder Series Roadster, would you keep it?

Discussion in 'Roadster 2022' started by Nguyenning, Apr 23, 2019.

  1. Nguyenning

    Nguyenning Member

    Joined:
    Aug 17, 2017
    Messages:
    290
    Location:
    Texas
    I’ve gotten a few referrals (each one puts you in a drawing to win a Founders Series Roadster).

    I was thinking about what I’d do if I actually won one. Assuming they have to also provide a sweepstakes cash equivalent option (which would be around $150K to $175K probably after taxes)

    Obviously depends on everyone’s situation, but it’d be hard for me to justify driving around in a $250K car instead of taking the cash...

    Figured I’d ask here just for fun.
     
  2. ChrisH

    ChrisH Active Member

    Joined:
    Jun 4, 2013
    Messages:
    2,273
    Location:
    Milton, wa
    Why would they offer a cash equivalent alternative?
     
  3. insaneoctane

    insaneoctane Active Member

    Joined:
    Apr 6, 2016
    Messages:
    3,354
    Location:
    Southern California
    I would LOVE to win and drive that Roadster!
    But, alas, with mediocre yet "no-financial-help-for-you!" income and the high price of putting 3 kids through college, I'd take the cash :(
     
  4. angelman

    angelman Member

    Joined:
    Jul 7, 2018
    Messages:
    237
    Location:
    los angeles
    wouldn't you have to pay tax on that.. I would imagine you would be taxed at 40%.. so really you are winning a 60% discount on a roadster... unless they pay you additional cash to cover the tax.
     
  5. woodisgood

    woodisgood It's walnut, beech

    Joined:
    Jul 26, 2018
    Messages:
    2,173
    Location:
    San Francisco
    It would be a thrill to drive a few times or on certain trips and the tech is absolutely amazing but I wouldn’t want to drive one around regularly enough to justify keeping it over equivalent cash.

    But you’re also talking to someone who wouldn’t be interested in owning a Ferrari/Lambo/etc. Model S/X P100DL are literally my dream cars and even a Performance 3 is close enough!
     
  6. CravenRx

    CravenRx Member

    Joined:
    Apr 10, 2019
    Messages:
    47
    Location:
    Tn
    I’d love it but the tax payment would be rather large and it would cause my student loan payments to skyrocket.. so I would need to win at least 2 haha
     
  7. Jrzapata

    Jrzapata Member

    Joined:
    Jun 24, 2018
    Messages:
    144
    Location:
    Texas
    There;s that 40% tax PLUS the insurance on that beast!
     
  8. Leafdriver333

    Leafdriver333 Somewhat Active Member

    Joined:
    Mar 21, 2019
    Messages:
    1,070
    Location:
    usa
    I would not be able to afford the tax and insurance without some sacrifices.
    I would sell it and invest the money for future Tesla cars.
     
  9. Nguyenning

    Nguyenning Member

    Joined:
    Aug 17, 2017
    Messages:
    290
    Location:
    Texas
    Yes all sweepstakes in the US must provide a cash equivalent option for the winner. It’s taxed yes.
     
  10. T3SMA

    T3SMA Member

    Joined:
    Mar 21, 2019
    Messages:
    35
    Location:
    Orange County, CA
    Realistically, no. financially, you would need to be fairly liquid to be able to drive that car, even just on weekends. I would imagine if you can "afford" a supercar, then yes keep it. insurance and anxiety from fear of theft/damage and people interested in the car crowding you in public would be other factors that make me look the other way

    In my daughter's fairy tale storyland, yes.

    Or if I was a character in a fast & furious franchise movie, yes.
     
  11. AMPd

    AMPd Active Member

    Joined:
    Nov 27, 2012
    Messages:
    4,245
    Location:
    Northern California
    I would absolutely keep it
     
  12. Nded

    Nded Member

    Joined:
    Feb 10, 2018
    Messages:
    22
    Location:
    Florida
    But does this offer meet the definition of a sweepstake? Where is this federal law posted?
     
  13. TMThree

    TMThree Active Member

    Joined:
    Mar 28, 2019
    Messages:
    1,116
    Location:
    USA
    Why would they? The car doesn't cost Tesla anywhere near that price.
     
  14. ItsNotAboutTheMoney

    ItsNotAboutTheMoney Well-Known Member

    Joined:
    Jul 12, 2012
    Messages:
    10,212
    Location:
    Maine
    Sell it to pay the tax.
    Even if no tax, I'd sell it because I wouldn't want it.
     
  15. ChrisH

    ChrisH Active Member

    Joined:
    Jun 4, 2013
    Messages:
    2,273
    Location:
    Milton, wa
    That’s what I mean, why would they offer a cash prize instead?
     
  16. Wennfred

    Wennfred Supporting Member

    Joined:
    Apr 4, 2019
    Messages:
    2,907
    Location:
    San Diego
    Probably have to pay a luxury tax, I don’t know but I would sell it for sure, 1. I don’t need anything that fast and 2. I could pay off my house with that money.
     
    • Like x 1
  17. Pinot.Noir

    Pinot.Noir Member

    Joined:
    Feb 28, 2014
    Messages:
    773
    Location:
    Livermore, CA
    For $50k in value less, I prefer the regular Roadster vs the Founder. I just hope the rear seats can hold two cases of wine!
     
    • Funny x 1
  18. jlv1

    jlv1 Twice as much fun

    Joined:
    Oct 14, 2015
    Messages:
    460
    Location:
    Central MA
    I'd keep it! It would save me from having to buy one and explain it to the wife.
     
    • Funny x 1
  19. S4WRXTTCS

    S4WRXTTCS Well-Known Member

    Joined:
    May 3, 2015
    Messages:
    5,305
    Location:
    Snohomish, WA
    I'd keep it.

    No Kids
    No Student Loans

    All I really spend my money on is cars, and $5 candy bars.
     
    • Like x 3
    • Funny x 2
  20. Pinot.Noir

    Pinot.Noir Member

    Joined:
    Feb 28, 2014
    Messages:
    773
    Location:
    Livermore, CA
    Ok, we gotta party. $5 candy bars are perfect with Pinot Noir.....or Port!
     
    • Funny x 1
    • Love x 1

Share This Page

  • About Us

    Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.
  • Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


    SUPPORT TMC