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Hi all, new to the forum, been lurking for a few weeks. I was lucky enough to win the Jimmie Johnson Foundation raffle and selected a 2013 427 as my prize (the rules said I couldn't get a Z06 or a ZR1, but they must have wrote them prior to knowing the 427 would be released). So my 427 isn't supposed to be built till mid-Nov and then it will be delivered to Hendrick Performance sometime in early Dec. Hendrick, as part of the prize, will dyno the car for me.
I have wanted a Corvette for many years and so glad I finally get to own one, but the waiting is killing me. Will post some pics when it finally comes in, but that is still a long wait from now.
So will the tax ..................., but welcome aboard and congrats
What a win!! Congrats!!!
in 1996 wife called me and said she had entered me in a Fathers day deal at Rich's and I had won a choice of a Harley or a landrover.
took the landrover and a few days later called my CPA and said what is the gift tax on a landrover, value $34,000. He laughed at me and said, no gift tax, it is pure income. With state and fed, final cost was $15,700 in taxes, still a great deal but just so you are prepared.
So will the tax ..................., but welcome aboard and congrats
Fortunately for me, the Jimmie Johnson Foundation is a class act, the prize also included:
1. Invitation to a Jimmie Johnson event where I got to meet him and get him to sign a part of my car
2. Suite tickets to last weeks Bank of America 500 (the seats were awesome)
3. INCOME TAX coverage for the cost of the car! I will only need to cover Sales and Property tax, they are covering federal and state income tax!
What did the raffle ticket cost ya? Was there a limited # of tickets?
Raffle is done every year, it is $100 for a ticket and they limit to 3000 tickets (not sure they even sold all 3000 tickets this year). The car prize was a choice of a Silverado, Tahoe, Camaro, or Corvette, optioned out to my spec and max value $75K - obviously I have to pay the difference since the MSRP on the 427 is higher than 75K.
Fortunately for me, the Jimmie Johnson Foundation is a class act, the prize also included:
1. Invitation to a Jimmie Johnson event where I got to meet him and get him to sign a part of my car
2. Suite tickets to last weeks Bank of America 500 (the seats were awesome)
3. INCOME TAX coverage for the cost of the car! I will only need to cover Sales and Property tax, they are covering federal and state income tax!
Raffle is done every year, it is $100 for a ticket and they limit to 3000 tickets (not sure they even sold all 3000 tickets this year). The car prize was a choice of a Silverado, Tahoe, Camaro, or Corvette, optioned out to my spec and max value $75K - obviously I have to pay the difference since the MSRP on the 427 is higher than 75K.
Good odds. for 3000 limit U can expect a $300 raffle ticket elsewhere (usually a Z06) i.o.w.. I've seen the $150 for 1500 limit.
What a win!! Congrats!!!
in 1996 wife called me and said she had entered me in a Fathers day deal at Rich's and I had won a choice of a Harley or a landrover.
took the landrover and a few days later called my CPA and said what is the gift tax on a landrover, value $34,000. He laughed at me and said, no gift tax, it is pure income. With state and fed, final cost was $15,700 in taxes, still a great deal but just so you are prepared.
Congrats on your win, funny when all your friends start telling you that it's nice to see someone actually wins those things
Man congrats that is awesome. I can't image being lucky enough to win a car much less a 427vette. You hit the mother load. I know you will love it. It will be the best early Christmas present to yourself. Enjoy
So will the tax ..................., but welcome aboard and congrats
I was thinking same thing....
Anyway...to OP....congrats. You'll love the 427.....at least your getting a ONE YEAR ONLY ride....I wanted a 427 Vette since i first rode in one as a kid. Got it today except it's in a 'Z....so I'm a happy camper. Is there anyway you get get your order to get the LAST 427 Vert built...???
Their going away.....likely will NEVER return too. Would be cool to get the last one....GM Heirtage is supposed to get the last Z06.
Anway, congrats. Your gonna love the power those LS7's make. Intoxicating and exhilerating are a few words which describe it.