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musicman

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I was at Cars and Cigars charity auction in Michigan last Thursday, and one of the auction items was a Bronco Raptor. The bidding was out of control and hit $145k. Once the hammer dropped they said they could do a second one, which sold for 145k!! Madness! Proceeds went to several charities including the Fuente foundation for schools in the Dominican Republic.




Ford Bronco Two Bronco Raptors auctioned at Cars and Cigars - both for $145K! 834F5543-5FE0-43AF-9364-4B39ED4C2450


834F5543-5FE0-43AF-9364-4B39ED4C2450.jpeg
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thenewjs

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IIRC, only the amount above invoice and taxes is tax deductible.
 

Cornbred

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That kinda sucks actually
 

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MyBroncoNotYours

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Honesty sounds kind of cheap/about right with how the dealers are expecting to sell them at $80-120k depending on your area with ADM. $25-65k more, which is tax deductible, and you get to drive away with it today. If I had the money to buy one at $100K, I’d buy this in a heart beat. Surprised it didn’t go higher.
 

FormerJeepJunkie

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100% they are not buying them for daily drivers. That’s a tax write off. I see it at every charity event. You wrote off the extra over invoice, use the item for a period of time, donate or sell to either make profit or reduce taxes.

Fun things that people with excess money can do.
 

Phil

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Wait, where did they get 2 BRaps to auction when I still don't have mines ?
 

8cam

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Damn. I tried to get the golden ticket, day 2 reservation holder. And I was denied. Not ashamed to say I would have flipped it immediately. But once I get my BL it’s a keeper.
 

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IfIHMadeA2021Scout

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IIRC, only the amount above invoice and taxes is tax deductible.
So let's say MSRP and taxes is $83,500. That leaves $61,500 to write off. On a high earner here in California that would be taxed at 49.3% (37% + 12.3%) (even higher depending on how you do your taxes considering the SALT caps) for a tax savings of $30,319. Real cost of $114,680 is not all that bad considering the ADMs being charged around here for the F-150 Raptor, Super Duty Tremor, and similar vehicles.

And then you tell everyone you did it for the kids...................
 
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musicman

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A guy at my table spent 80k on a Rolex. The Rolex was 14k.
 

wrbix

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“both for $145k”,,,,……now that’s a deal, only $72,500 EACH.
 

ATXGuy

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I assume the Bronco there is pre-production and the winner didn't drive it off. If he did then it is a no brainer.
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