SANTAQUIN, Utah — A truck driver who won a $380,000 Lamborghini in a convenience store contest crashed the sports car six hours after he got it, and now plans to sell the 640-horsepower convertible because he cannot afford the insurance or taxes.
Read more here: http://www.idahostatesman.com/2011/12/21/1924949/man-crashes-lamborghini-6-hours.html#storylink=cpy
Too bad smarts don't also come with contest winnings or instant riches. Apparently even he knew he couldn't afford that car though.
ReplyDeleteAt least he didn't kill or hurt anyone!
Even if I were rich I don't think I would want to own one. I might rent one but would probably just do it at a private track where one could really enjoy it without risking the lives of others and property. Does beg the question about whether what could be considered a race car should even be street legal...
My dad once told me a story about the 55 chevy bel air with a souped up motor he had while in high school (circa 1960). He let his dad who was a 747 flight engineer try it. Grandpa almost lost control of it! He told my dad the thing had too much power and why the hell did he need that much power!
My dad was doing street racing (really very dangerous when you think about it). He wanted to go into real track racing but lack of money and no sponsors....
While I can understand why the insurance would be so expensive, I'm always bothered by how the taxes on these things can also really screw you over. Government is always eager to take a bite out of the pie!
ReplyDeleteEven so, how I wish I had a $300,000 Lamborghini to sell! That would be a nice problem to have. :-)
I've always thought Lamborghinis were hideous anyway, so I would have sold it instantly.
ReplyDelete(The only Italian sporting cars I think aren't hideous, in fact, are the Maseratis, and I wouldn't spend my own money on one unless I was insanely wealthy...)
For that reason I never enter contests that aren't cash award since I couldn't pay the taxes without cash (unless it was a small value item).
ReplyDeleteI have often wondered what has happened to people that win houses in contests and yet lack the money to pay the taxes. I imagine most end up having to sell the house. Unless maybe there is a way to get a mortgage to cover the taxes (since this would be a relatively small part of the assessed value and the rest would be equity).