Parts Catalog Accessories Catalog How To Articles Tech Forums
Call Pelican Parts at 888-280-7799
Shopping Cart Cart | Project List | Order Status | Help




Go Back   PeachParts Mercedes-Benz Forum > General Discussions > Off-Topic Discussion

Reply
 
LinkBack Thread Tools Display Modes
  #1  
Old 08-04-2011, 11:30 AM
cscmc1's Avatar
Registered User
 
Join Date: Dec 2001
Location: Central IL
Posts: 2,782
SL500 for $20, anyone?

Cool story!

http://sports.yahoo.com/nfl/blog/shutdown_corner/post/Steelers-coach-sells-Mercedes-to-team-cafeteria-?urn=nfl-wp4503

Steelers coach sells Mercedes to team cafeteria worker for $20

By Chris Chase

Steelers coach sells Mercedes to team cafeteria worker for $20A cook at the Pittsburgh Steelers team complex is driving around in a red Mercedes convertible thanks to an unexpected and generous deal from the franchise's former secondary coach.

On his final day in Pittsburgh before taking over as defensive coordinator for the Arizona Cardinals, Ray Horton gave his 1999 Mercedes SL500 to cafeteria worker Maurice Matthews.

The cook had always kidded around with Horton, telling him he was coaching his position and asking when he'd be allowed to drive his sports car. Horton would jokingly reply, "you can't afford the gas in it."

But on his final day in Pittsburgh, Horton approached Matthews to say goodbye and asked if he could borrow whatever money he had in his pocket. When Matthews handed over a twenty, Horton said "sold for $20!" and handed him the keys to his car.

"Ray said, 'Hey, you always liked the car, you're a good dude, I know you'll take care of it," Matthews told the Pittsburgh Post-Gazette. "It's yours."

The next day he drove Horton to the airport and received all the paperwork to take ownership of the car. With 64,000 miles on it, Matthews ended up paying $20 for a vehicle that carries a Kelly Blue Book value of $17,735.

"It's just taking care of guys who took care of you," Horton told the Arizona Cardinals team blog.

The Cardinals got a good man. And cafeteria workers in Tempe just found their new favorite customer.
__________________
1992 300D 2.5T
1980 Euro 300D (sadly, sold)
1998 Jetta TDI, 132K "Rudy"
1974 Triumph TR6
1999 Saab 9-5 wagon (wife's)
Reply With Quote
  #2  
Old 08-04-2011, 12:01 PM
LandYaghtLover's Avatar
Registered User
 
Join Date: Jun 2010
Location: Green Bay, WI
Posts: 1,341
Thats illegal in my state. If a vehicle is sold way under value there have to be an explanation as to why. Even then most get stuck paying the sales tax for the real world value. Same as when a vehicle is gifted.
__________________
1991 560 SEL / 185k miles
1992 750il / 17k miles - project car
Reply With Quote
  #3  
Old 08-04-2011, 12:07 PM
cscmc1's Avatar
Registered User
 
Join Date: Dec 2001
Location: Central IL
Posts: 2,782
Quote:
Originally Posted by LandYaghtLover View Post
Thats illegal in my state. If a vehicle is sold way under value there have to be an explanation as to why. Even then most get stuck paying the sales tax for the real world value. Same as when a vehicle is gifted.
Wow -- your state regulates sale prices? That's odd. Here in IL, I could buy that car for $20, but I'm going to pay the state's flat tax rate for that year car if I report the sale price as $20.

In any case, I liked the story and thought it a generous gesture by that coach.
__________________
1992 300D 2.5T
1980 Euro 300D (sadly, sold)
1998 Jetta TDI, 132K "Rudy"
1974 Triumph TR6
1999 Saab 9-5 wagon (wife's)
Reply With Quote
  #4  
Old 08-04-2011, 12:14 PM
Jorn's Avatar
Registered User
 
Join Date: Nov 2003
Location: TheFlyingDutchManInHollywood
Posts: 5,171
Quote:
Originally Posted by LandYaghtLover View Post
Thats illegal in my state. If a vehicle is sold way under value there have to be an explanation as to why. Even then most get stuck paying the sales tax for the real world value. Same as when a vehicle is gifted.
That's what I was thinking, like buying a discounted phone and paying sales tax for the full amount. Gifts like this one can ruin you financially.
__________________
Black on Black 1979 300CD (sold), 1990 Black 300SE, Silver 1989 Volvo 780, 1988 300CE
Reply With Quote
  #5  
Old 08-04-2011, 12:15 PM
LandYaghtLover's Avatar
Registered User
 
Join Date: Jun 2010
Location: Green Bay, WI
Posts: 1,341
Yup. Its to deter people from underreporting to avoid paying taxes. You can get away with fudging the numbers somewhat. Not sure about IL, but up here the owner always hold the title, even when there is a lien. Also sales tax is paid at the time of title transfer at the DMV.
__________________
1991 560 SEL / 185k miles
1992 750il / 17k miles - project car
Reply With Quote
  #6  
Old 08-04-2011, 12:20 PM
cscmc1's Avatar
Registered User
 
Join Date: Dec 2001
Location: Central IL
Posts: 2,782
Quote:
Originally Posted by LandYaghtLover View Post
Yup. Its to deter people from underreporting to avoid paying taxes. You can get away with fudging the numbers somewhat. Not sure about IL, but up here the owner always hold the title, even when there is a lien. Also sales tax is paid at the time of title transfer at the DMV.
We pay sales tax at time of title transfer, too (on private sales, anyway). And there are minimum taxes (based on the age of the vehicle) as well, which generally negates an under-reporting.

So at what percentage under market-value is it illegal? That's very strange, to me. How does your state value a car that needs work in some capacity?

EDIT: I see you mentioned that "there has to be an explanation" about under-valuation. I suppose that's how you deal with cars that need repair.
__________________
1992 300D 2.5T
1980 Euro 300D (sadly, sold)
1998 Jetta TDI, 132K "Rudy"
1974 Triumph TR6
1999 Saab 9-5 wagon (wife's)

Last edited by cscmc1; 08-04-2011 at 01:00 PM.
Reply With Quote
  #7  
Old 08-04-2011, 12:23 PM
cscmc1's Avatar
Registered User
 
Join Date: Dec 2001
Location: Central IL
Posts: 2,782
Quote:
Originally Posted by Jorn View Post
That's what I was thinking, like buying a discounted phone and paying sales tax for the full amount. Gifts like this one can ruin you financially.
I'd gladly pay $20 for that car PLUS the sales tax on it's actual value. Your point is valid, though, in that the cafeteria worker may not be able to afford the tax.
__________________
1992 300D 2.5T
1980 Euro 300D (sadly, sold)
1998 Jetta TDI, 132K "Rudy"
1974 Triumph TR6
1999 Saab 9-5 wagon (wife's)
Reply With Quote
  #8  
Old 08-04-2011, 12:56 PM
LandYaghtLover's Avatar
Registered User
 
Join Date: Jun 2010
Location: Green Bay, WI
Posts: 1,341
Its just sales tax on selling price. We dont pay that minimum tax thing.
__________________
1991 560 SEL / 185k miles
1992 750il / 17k miles - project car
Reply With Quote
  #9  
Old 08-04-2011, 01:00 PM
cscmc1's Avatar
Registered User
 
Join Date: Dec 2001
Location: Central IL
Posts: 2,782
Quote:
Originally Posted by LandYaghtLover View Post
Its just sales tax on selling price. We dont pay that minimum tax thing.
Ah, I see. In IL, if the sale price is below the state minimum for that year (other criteria may apply, too), a minimum tax is applied at the time of title transfer.
__________________
1992 300D 2.5T
1980 Euro 300D (sadly, sold)
1998 Jetta TDI, 132K "Rudy"
1974 Triumph TR6
1999 Saab 9-5 wagon (wife's)
Reply With Quote
  #10  
Old 08-04-2011, 01:09 PM
LandYaghtLover's Avatar
Registered User
 
Join Date: Jun 2010
Location: Green Bay, WI
Posts: 1,341
Ouch, that sucks.
__________________
1991 560 SEL / 185k miles
1992 750il / 17k miles - project car
Reply With Quote
  #11  
Old 08-04-2011, 01:23 PM
The Clk Man's Avatar
Saved By Grace
 
Join Date: Nov 2008
Location: Heaven Bound
Posts: 123
This story reminds me of my younger sister. My sister owns a shipping and delivery business in Florida. And one day she was driving home and saw a man, woman and two little kids stranded beside the road with smoke coming out of the hood of their car. She stopped and gave her nice mini van to them. She signed the title over to them and walked home.
__________________
For the Saved, this world is the worst it will ever get.
For the unSaved, this world is the best it will ever get.

Clk's Ebay Stuff BUY SOMETHING NOW!!!
Reply With Quote
  #12  
Old 08-04-2011, 01:27 PM
LandYaghtLover's Avatar
Registered User
 
Join Date: Jun 2010
Location: Green Bay, WI
Posts: 1,341
They did not give you sister a ride home at least?
__________________
1991 560 SEL / 185k miles
1992 750il / 17k miles - project car
Reply With Quote
  #13  
Old 08-04-2011, 01:30 PM
The Clk Man's Avatar
Saved By Grace
 
Join Date: Nov 2008
Location: Heaven Bound
Posts: 123
Quote:
Originally Posted by LandYaghtLover View Post
They did not give you sister a ride home at least?
I don't remember, I'm sure they did. I will ask her the next time I talk to her. My sister is a great gal.
__________________
For the Saved, this world is the worst it will ever get.
For the unSaved, this world is the best it will ever get.

Clk's Ebay Stuff BUY SOMETHING NOW!!!
Reply With Quote
  #14  
Old 08-04-2011, 01:30 PM
TylerH860's Avatar
KHAAAAAAN-gress
 
Join Date: Aug 2007
Location: Wichita, Ks
Posts: 5,187
The most expensive gift I ever got was my 500SL.

Maybe he got an $8000 estimate to replace the soft top hydraulics and was feeling generous.
__________________
1985 500SL Euro w/ AMG bits 130k
1984 300SD Turbodiesel 192k
1980 240D Stick China 188k
2001 CLK55 AMG 101k
2007 S600 Biturbo 149k Overheated Project, IT'S ALIVE!!!
Reply With Quote
  #15  
Old 08-04-2011, 01:32 PM
Stressed Member
 
Join Date: May 2004
Location: Florida Big Bend region
Posts: 721
When I lived in Connecticut, the local township charged a substantial personal property tax - every year - on vehicles.

It was a disincentive to owning a nice car. One mechanical designer with whom I worked routinely drove a beater. When his family went on a driving trip, he'd rent a Lincoln Town Car.
Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On




All times are GMT -4. The time now is 11:38 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2018 Pelican Parts, LLC - Posts may be archived for display on the Peach Parts or Pelican Parts Website -    DMCA Registered Agent Contact Page