Would you like to win a 2011 Chevrolet Camaro SS? Of course you would. Well, the Kansas Lottery is going to give one lucky person the keys to their very own Camaro coupe with their Muscle Car Money promotion.
The Missouri Lottery is offering people a chance to win one of four new muscle cars. The Muscle Car Mania promotion runs through August 23 and there is a chance to win a new Chevrolet Camaro SS, a Ford Mustang GT, a Dodge Challenger R/T or a Dodge Charger R/T.
Meanwhile, a couple received the keys to their new Dodge Charger R/T Hemi at Auto World in Big Stone Gap on Friday thanks to a winning Muscle Car Money game Virginia Lottery ticket.
There’s no doubt about it – muscle cars draw and when you can grab one for a pittance, people are lining up for tickets. Sometimes though, the end result isn’t the dream you thought it would be. Reading the fine print is often illuminating. We’ve previously reported a casino whose “muscle car” prizes were V6 versions of the named cars.
Even when the model is specified, for example a Camaro SS, it is likely to be a 1SS model and not the 2SS level. While we certainly wouldn’t complain about taking over the keys to a 1SS Camaro, knowing what you’re getting into helps to avoid disappointment later.
Depending on the rules of the game, the winner may be able to take a cash equivalent prize, which is exactly what a lady from Terre Haute, IN, did in the Hoosier Lottery’s Muscle Car Money second chance drawing last week. Meanwhile, an instant scratch winner in the South Dakota Lottery’s Camaro Cash game pans to sell her new car before the snow arrives.
“It’s not a practical car for a South Dakota winter,” she said. “I could use the money to pay some bills and take the family on a vacation.”
Tax implications can also reduce your enjoyment of a new muscle car, at least if you’re thinking ahead. Using the car fora while and then selling it will bring depreciation into play, with the result that tax on the full retail price of the car becomes a significant portion of the depreciated price you may get on the open market.
If you’re lucky enough to win the actual car of your dreams, then put the wind at your back and enjoy your good fortune. If it’s just a nice car that you could get to like, check out the cash equivalent option, pay the taxes and put a nice down payment on what you really want… or need.