- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
What would you do if you won a 2 year lease on a vehicle?
Posted on 5/5/16 at 7:48 am
Posted on 5/5/16 at 7:48 am
I was at an event last night and a company was raffling off a chance to win a 2 year lease on a vehicle of your choice. Either an Acura ILX or some KIA SUV, both 2016 and both very nice looking. As often happens when it comes to lottos or raffles, I got to thinking abotu what I'd do if I won and I don't really have any idea. A few of the options I could come up with:
1) Sell current vehicle and drive the lease. Could take the money brought in from vehicle sale and put it in some sort of 2 year fund of some kind then use that to purhchase a replacement 2 years from now
2) Keep current vehicle but cancel the insurance. Basically crank it up and drive around the neighborhood once every 10 days or so to keep everythign in working order. Drive the lease, then after 2 years you've got your car that kinda sorta just gained 2 years worth of use out of it
3) Go nuts and keep and drive both!
What are some other options for what to do, and what would be the best thing to do from a financial standpoint?
1) Sell current vehicle and drive the lease. Could take the money brought in from vehicle sale and put it in some sort of 2 year fund of some kind then use that to purhchase a replacement 2 years from now
2) Keep current vehicle but cancel the insurance. Basically crank it up and drive around the neighborhood once every 10 days or so to keep everythign in working order. Drive the lease, then after 2 years you've got your car that kinda sorta just gained 2 years worth of use out of it
3) Go nuts and keep and drive both!
What are some other options for what to do, and what would be the best thing to do from a financial standpoint?
2
Posted on 5/5/16 at 7:51 am to WG_Dawg
How much tax are you going to have to pay on your winnings? Are you responsible for damage/depreciation done to the care over the two years?
Personally, I'd tell them to keep their 'free' lease. I'm afraid it would be a big pain in the arse in the long run.
Personally, I'd tell them to keep their 'free' lease. I'm afraid it would be a big pain in the arse in the long run.
Posted on 5/5/16 at 8:11 am to Enadious
quote:
How much tax are you going to have to pay on your winnings? Are you responsible for damage/depreciation done to the care over the two years?
I don't have a clue I didn't really check it out in depth.
quote:
I'd tell them to keep their 'free' lease
If you won and didn't want either vehicle you could take a $5K cash reward. I didn't include that in the OP though just because I was more curious about the vehicle side of things.
Posted on 5/5/16 at 8:36 am to WG_Dawg
I'd probably take the 5k cash award.
Posted on 5/5/16 at 8:43 am to LSUtoOmaha
quote:
I'd probably take the 5k cash award.
This. Pay tax, and it's over.
Posted on 5/5/16 at 9:29 am to WG_Dawg
$5k cash for me....but I have 2 brand new vehicles so it wouldn't make sense to keep the lease
Posted on 5/5/16 at 9:33 am to TigerTatorTots
I would probably take the lease and sell one of my vehicles. I think a lot of it depends on what you driving. Also would you be allowed to buy the car for residual value after the lease?
Posted on 5/5/16 at 9:56 am to LSUtoOmaha
I'd also take the cash. Already drive the car I want, so a short term lease holds no appeal, esp if it's for a gas guzzler SUV.
Posted on 5/5/16 at 9:58 am to WG_Dawg
With any lease you're going to have a mileage limit, with a free one I bet it's super low. So selling your car may not be an option unless you rarely drive or have a spouse's car. That $5k cash might be a much cheaper option if you went over the mileage.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News