Last 30th Anniversary BMW M5 sold for $700,000 to Rick Hendrick

[MCarsFan]

Originally Posted by jeremicium

This thread turned around quickly. A bunch of people quickly jumped on the hater bandwagon, then somebody rationally points out that the haters posts are irrational. Now everybody is jumping to Hendricks defense and lashing out at all the early posting haters. All this thread shows is how easy it is to get sheep to jump on board one side or another.

I'm entitled to my opinion as you are to yours.

[IB M]

And therefore the donation reduces your AGI lower, the net of which you pay taxes on at your tax rate. Hello.

#K19

[BEMR]

Originally Posted by Luminor513

Finally.....+1

lol I am a tax expert and could comment on how wrong so many posters are in their comments almost every post including the one I'm quoting its hilarious to read this thread!

[bronch]

Originally Posted by BEMR

lol I am a tax expert and could comment on how wrong so many posters are in their comments almost every post including the one I'm quoting its hilarious to read this thread!

It must be good to be you...

[COBodom]

How can someone with even slight traces of intellect call this car collector an idiot is beyond me !!!

You really don't get it, do you ?

He probably should've emailed the board sponsors for a deal and do ED on that car to save extra 7%. That would be smart, right ?

[TheBingoBalls]

Originally Posted by Racer20

You're off by a couple orders of magnitude here . . . A billion is 1000 millions . . . so it's the equivalent of a millionaire tinting the windows on his well euipped BMW. A normal person could get really nice license plate frame. Maybe.

Yes. Maybe lmao

[K19BMW]

Originally Posted by IB M

And therefore the donation reduces your AGI lower, the net of which you pay taxes on at your tax rate. Hello.

#K19

Uh hello you said its "applied against his corporate tax rate". That is not the same thing as reducing AGI which would lower his taxable income which MAY put him in a lower tax bracket which would then reduce his taxes.

[BEMR]

Originally Posted by bronch

It must be good to be you...

Ya amazing how a little knowledge gives ya a little confidence unlike your jealous comment.

[bronch]

Originally Posted by BEMR

Ya amazing how a little knowledge gives ya a little confidence unlike your jealous comment.

yah, I'm jealous. You're arrogant.. and a tax expert, lol.

[BEMR]

Originally Posted by bronch

yah, I'm jealous. You're arrogant.. and a tax expert, lol.

If your not jealous have this be your last post on this thread regarding your insecurity to respond , but I have a feeling it won't be, lol. LETS SEE then we can laugh. edit :lol again

[termigni]

this guy clearly got too much money and doesn't know what to do with it.

[awesomee92]

A car like this is meant to be driven! Only miles going on it are to be to load it on a truck??

[bronch]

Originally Posted by BEMR

If your not jealous have this be your last post on this thread regarding your insecurity to respond...

I have no idea what this means... Is English you're second language? Please stop posting.

[MaxM3F80]

Originally Posted by Hisam135i

Go everyone freaking out about the cost. He's worth over 1 billion. But for fun lets do some math:

700000/1000000000 = .0007.
If we multiply that by the average Americas wealth of 250000
.0007*250000= 175.

So he just spent $175.

I dont know you right or wrong about this math...
But see if I have 700k spend like 175 dollars to have this fun game iam like this luckyson!!!

[KevinLevin]

Originally Posted by F82FTW

There's a sucker born every minute.

Seems like your in that group.

[dimeo187]

This thread is 6 pages too long. Nothing but back and forth bickering among "enthusiasts." This is bimmerpost, he purchased a F10 M5. Let the man do what he wants with his billion dollar bank account.

[boots]

I say congrats on his purchase for an awesome cause. His past and future auction purchases help many people who need the money. I'm willing to bet that several of the haters here watch nascar and had rooted for one of his drivers to win. I say Boo to the hateration! To spend that kind of money and not bat an eye = awesome. I tip my hat to Mr Hendricks.

[JustChris]

What a price!

[BeachsideF30]

Show of hands, how many of you own multiple private jets, the most well known team in nascar, and multiple car dealerships?

[CmdllbF11]

He may be worth a billion dollars but that doesn't mean it's liquid and sitting in his bank account. 700k is still 700k. But, as long as you got it, no problem.

I nearly bought one. I was only 695k short.

[StealYourFace]

Originally Posted by heart_doctor

He's better off writing a check. He can't deduct it because he got something in return. I understand the whole charity thing but the only person who can deduct is whoever donated the car. The purchaser cannot deduct from their taxes.

Im sure he has no trouble finding ways to dodge his tax burden every year.

[midlifecrisis]

As someone who helps conduct some of the BMWCCA Foundation's programs locally (Tire Rack Street Survival), I'm extremely grateful to Rick Hendrick and BMW NA for this fantastic donation.

It's my understanding that BMW NA donated the car to the BMWCCA Foundation and that all the net proceeds of the sale went to their fundraising campaign.

By the way, the BMWCCA Foundation was created by the BMW Car Club of America, which is not part of BMW NA or its parent company. Of course, BMW NA is a major sponsor of the club, as are other companies who serve and want to reach club members.

The foundation has several missions, including the Tire Rack Street Survival Program, which teaches young drivers skills they don't get in normal driver's education classes. It's a great program that uses a lot of volunteer manpower across the country. My kids have gone through it and they believe they've avoided serious accidents because of it. Over the past several years, the program has also been conducted by chapters of the SCCA, PCA and Audi Club. They're all working to make teenagers safer drivers.

The foundation also houses a collection of BMW memorabilia and historical information that is pretty cool to see. It's housed at the BMWCCA Foundation headquarters in South Carolina.

Again, thanks to Rick Hendrick and BMW NA for their generosity. I can't understand why anyone would twist a generous charitable act into anything else.