'Price Is Right' Contestant Won't Risk Losing $1,500 For A Car

Submitted by: kalron27 1 week ago in Entertainment Funny


When given the chance to re-roll the final dice not once but twice, this guy sticks to his guns and says Nope, give me my money bitch!  Even Drew Carey is shocked.

I, for one, would agree.  $1500 cash money vs paying taxes on that new car... no-brainer.
There are 21 comments:
Male 589
When you win cash or merchandise you have to pay income tax only. When you win a car, you have to pay the state sales tax on the car to the dealer AND the value of the car is also considered taxable income for both federal and state. This adds up to thousands of dollars. The winner often has to pay the state income tax immediately or forfeit the car. Sometimes a small cash prize is better than a car you can’t afford to pay the taxes on.
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Male 1,593
I would have asked to reroll the dice that were showing cars and try to get more cash
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Male 41,157
squidbush I guess that was never an option...
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Male 3,879
You guys are missing something.

BEFORE you pull that car off the lot, you have to bring them cash to cover the tax and other bullshit little costs + show insurance (which is out of pocket).

So he might have had to come up with the better part of 3000 dollars, now sure he could have sold the car for 20k or whatever, but if he didnt have access to that money (and the only give you about a month to collect the car or you lose the chance) then he is smart for taking the cash in hand.

Sometimes, when you are broke, every decision you make is effectively bad because those are the only decisions you can make.
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Male 1,201
daegog Yeah, you have about a month.  If you can't find someone to lend you the better part of $3k so you can collect the car, sell it, pay them back and profit...something is wrong.  I know several people who would gladly lend me $3k if I told them I'd pay them back $4k as soon as I sold the car.
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Male 4,316
waldo863 in the small village I grew up in $3,000 was probably the combined monthly income of everyone who lived in the Village
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Male 3,879
waldo863 It's called being poor waldo, there are literally millions of people who are in that very situation.  The why's they are poor might be simple or complex but poor is poor.
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Male 1,201
daegog Yeah, trust me, I know.  The day before payday, I often have less than $10 to my name.  I am right there with the poor.  My household brought in less than 30k last year.  For a family of 3, that puts me just above the poverty line.   The previous two years, I was below that line.  I know what being poor is. 

That does not mean that my parents, or my wife's parents, do have funds set aside for retirement and other things that they could easily "borrow" from so I could collect the car and sell it and pay them back shortly.

If not family, then I know at least one friend who would do it.

If not family or friends, there are plenty of short term loan companies out there.  Yeah, they have terrible interest rates, but even paying the horrible interest you'll be money ahead.

Quit thinking like a poor person.  
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Male 3,879
waldo863 Quit thinking that people have the same options you do.  

That guy might not have a single friend or family member in the world.  He might not even have a legal license to pick the car up with even if he DID come up with the cash.

Because you can do blah blah blah, doesn't mean he can.  Maybe he is fully able to, but we shouldn't assume it.

I literally know people who would consider that 30k a year you are bringing in is borderline wealthy, not me, but those people exist and they are not remotely rare.
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Male 1,201
daegog Seriously, anyone does have the option to go to one of those payday loan type of places and get a horrible interest loan of up to $5K.  Those types of places give loans to people with bad credit all the time.  Seriously, anyone can do it, even if you have terrible credit.  That's why those places exist, they prey on people with bad credit.  In this case, he could handle it because he would certainly be able to pay the loan back after selling the car.
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Male 3,879
waldo863 Does he have one were he lives that he isnt already in bad standing?  I know tons of folks who cannot go to them.  If you write a check and give it to them AFTER you got fired, well, yeah they dont like you too much.

I get what you are saying, what i am saying is the options you are suggesting are not available to a lot of people.  If I had that chance, i totally would have grabbed that car, but 3k is not great hardship to me.
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Male 349
daegog but being poor in the US means being subject to predatory loans. 99.9% of the time, these loans are terrible for the victim. But this case would be the 0.1% left.
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Male 1,801
He's a simpleton that's probably regretting his decision.

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Male 10,125
I can't tell if this is sarcastic or not.

I don't know what the car is, but let's say it has an MSRP of $25,000. He could sell the car for $20,000.

He has to roll "car" one time on one die to win it.
Three sides of the die are "car".
He has two chances.

He has a 75% chance to win a car.
An 8% chance to win $500 ($1,000 less than he has now).
An 8% chance to win $1,000 ($5000 less than he has now).
An 8% chance to win $1,500 (same that he has now).

He either doesn't understand the game or is a complete moron.
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Male 41,157
holygod Yup, your analysis of the statistics and mentality are correct.

It could be that he REALLY NEEDS $1500 and couldn't stand the risk of losing it? But since most game shows (afaik) will offer a "cash equivalent" to the prize value (somewhat lower of course) then even after taxes (which he has to pay on the $1500 anyhow) he'd have $15,000 in his hands, give or take.

75% chance to win 10X the cash? That's a sure GO! 
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Male 10,125
5cats Price is right does NOT offer cash value for any prizes. I looked it up when I saw the video. Doesn't change the fact that he is still a moron.
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Male 41,157
holygod Really? Well I did qualify my belief since I had no real idea. They used to do that? Or the individual shows could choose to or not? IDK, so thx for looking it up.

Yup, even with the 'inconvenience' of the paperwork it was a high-odds chance of gaining a lot with little to be lost.
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Male 1,793
holygod Yeah, an 83% chance of either winning the car or winning the same amount of $$$ that he won earlier.

The only thing I could think of is that if he won the car, there's slightly more hassle involved in reselling it.
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Male 1,201
bliznik Or in other words, only a 16% chance of getting less than he already had.  Probably the stupidest contestant, not the smartest.
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Male 1,201
I guess if $1500 is a lot of money to you, go ahead.  I'm not really rich or well off or anything, and yeah, $1500 could help me get caught up on my bills, but I know I could sell that new car for more than enough to cover the taxes and have much more than $1500 left over.  Now if it was $5000 or the car the decision would be a bit tougher.  
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Male 41,157
waldo863 I think most shows will offer a "cash equivalent" which will be lower than the MSRP by a fair bit, by still way way higher than $1500...  I'd guess he'd easily end up with $12-15,000 off the car if it was worth $25K or so... after taxes!
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