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It’s nothing new

Cookie917 said:
bruh I was literally just talking about this. I have always had trucks. Back in 08 when the market had crashed and gas prices were sky rocketing and everyone was dumping trucks I picked up a 3 year old Chevy for peanuts. NO ONE wanted trucks because the media was driving this narrative like we were gonna run out of gas, MPG was EVERYTHING. Now, gas prices are just as high as back then, yet the price for trucks (or any used car) is still sky rocketing. I was hoping the same thing would happen with the huge movement to electric coupled with gas prices because I have been eying a few trucks and noopppeee
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Because trucks in 08 got 15 mpg on the highway. Modern trucks sip gas compared to older ones. My 06 Ram 1500 would get around 12mpg city and 16 on the highway. I could get 18 if I kept it under 70. My uncle has one of the new supercharged SRT Rams that has 500 hp and gets 30 mpg on the highway. Two extra gears on a transmission make a huge difference.
 
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They also know that after next season they no longer have to pay him because he going to the league. Even in general business, the higher the skill level the greater the costs.
 
Salt said:
I'd prefer the 100,000 in cash, not tied up in a truck that probably depreciated a few thousand as he drove off the lot.
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not to mention he probably paid 20k more for that truck now than someone would have a year and a half ago due to the car market

i've made mistakes but never mistakes with 5 zero's on the end luckily
 
JG14 said:
Did it say anywhere he purchased it? I wouldn't be shocked at all if he gets to drive it as part of a NIL deal. He would only need to report the FMV of the lease as income (correct me if I'm wrong @TheOriginalCane )
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You are correct.

As has been pointed out elsewhere on this thread, a CASH NIL deal can easily create a situation where the payor withholds 25% for federal taxes (or just ups the cash by 33% and cuts two checks, one for 75% to the player and the other for 25% to the IRS).

NON-CASH NIL deals are a bit trickier, as there is no cash withheld, and the player is usually not forward-thinking enough to make estimated income tax payments. This is the reason why Wheel of Fortune switched from giving out PRIZES (in the 1970s and early 1980s) to an all-cash system (though they now have other prizes mixed in with cash values). As long as you win SOME cash on Wheel of Fortune, the producers can withhold federal and California income taxes on the cash portion in order to cover the taxes on the total amount of all your winnings.

And you are absolutely correct to state the Fair Market Value of the lease. I just thought I would mention that before any of the CIS geniuses try to propose some $1 per year lease to defeat the IRS.
 
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AtlAtty said:
I hope he, and everyone else on NIL deals, are stashing away 33% because the IRS is salivating at the fact that it will finally get its cut from these payments.
Winners in NIL:
1. Players
2. IRS
3. Schools with NIL budgets/alumni
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People need to teach these kids how to deduct expenses too.

Oh, and SE Tax is a *****.
 
Boarcane said:
If anyone was concerned about Ruiz and Life Wallet, they take the taxes out and send it to the government biweekly. THE []_[]!!! Our kids aren’t getting played 🎉☘️
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Bi-weekly (employee?) or quarterly? Quarterly is all they need to do.
 
407cane said:
not to mention he probably paid 20k more for that truck now than someone would have a year and a half ago due to the car market

i've made mistakes but never mistakes with 5 zero's on the end luckily
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which goes back to op's original question about these kids getting tons of money with little to no financial guidance. I think universities need to do a better job of getting these guys the guidance they need to make better decisions especially with the advent of these NIL deals.
 
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DTP said:
Because trucks in 08 got 15 mpg on the highway. Modern trucks sip gas compared to older ones. My 06 Ram 1500 would get around 12mpg city and 16 on the highway. I could get 18 if I kept it under 70. My uncle has one of the new supercharged SRT Rams that has 500 hp and gets 30 mpg on the highway. Two extra gears on a transmission make a huge difference.
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Well 2 points:

1. it is also relative. Those cars back then that got 30 when the truck was getting 15 now get closer to 50.

and 2. it may have been the sales guy because I do not want to call your uncle a liar but no way do I believe 30mpg on a supercharged SRT. I am by no means a truck junkie but I honestly did not know and would have been shocked. I looked it up, and if he got the 3.6 engine with 2 wheel drive he is looking at 20/25, if it is the ecodiesel maybe a little more. But all they did was take an engine that should be in a chrylser 300 and put it in a truck, made the truck parts out of mainly aluminum so it is lighter but not as durable.

the only 2022 supercharged engine with 500+HP I could find was the 6.2L. This gets 10mpg city, 14 mpg highway so not much has changed bud. You also have to think they run these tests in ideal conditions with all stock options. I rarely know anyone that has a stock truck. At minimum they throw some bigger all terrain tires which will take some off your MPG as well.

Here is the link for reference: https://www.stokeschrysler.com/ram-1500-gas-mileage/
 
Cookie917 said:
For me personally it is necessary both for work and play (I enjoy boating/fishing, much easier to tow a boat and toss fish in a flatbed, impracticable to do in any other vehicle).

Now I have never had one of the super nice tricked out trucks, mine always end up with a few dings so I do not want to be as upset and do not splurge for all the extra BS but I imagine it is no different from wanting a "luxury" car. Some people just are not car people and prefer trucks. Also trucks are just bigger so more room. I have athlete friends who drive around in a regular suburban because they just do not fit in your standard car.
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I have a 68 Ford Ranger that we have taken to shows and had in a movie.....it only has 85k original miles so we do not drive her.....I use my F150 to haul her where she needs to go. When they upgrade the engine and tow package on the new Bronco I will have one of those.
 
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Cookie917 said:
Well 2 points:

1. it is also relative. Those cars back then that got 30 when the truck was getting 15 now get closer to 50.

and 2. it may have been the sales guy because I do not want to call your uncle a liar but no way do I believe 30mpg on a supercharged SRT. I am by no means a truck junkie but I honestly did not know and would have been shocked. I looked it up, and if he got the 3.6 engine with 2 wheel drive he is looking at 20/25, if it is the ecodiesel maybe a little more. But all they did was take an engine that should be in a chrylser 300 and put it in a truck, made the truck parts out of mainly aluminum so it is lighter but not as durable.

the only 2022 supercharged engine with 500+HP I could find was the 6.2L. This gets 10mpg city, 14 mpg highway so not much has changed bud. You also have to think they run these tests in ideal conditions with all stock options. I rarely know anyone that has a stock truck. At minimum they throw some bigger all terrain tires which will take some off your MPG as well.

Here is the link for reference: https://www.stokeschrysler.com/ram-1500-gas-mileage/
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The truck is not a 2022. It's the regular 5.7 liter motor but supercharged. the 6.2 is 700+ hp. But in fairness, it only gets 30 mpg at around 55mph. Actual highway cruising speeds it's closer to 25.Which is still significantly higher than older trucks. The only way my truck is getting 25mpg is if I drive it down a mountain in neutral.

Also, people are aware that gas prices aren't staying high forever. Back in 2008, people just assumed $4 gas was going to be the new normal. Add in the fact that truck inventories are super low, the values have gone through the roof. I feel bad for anyone who has to buy a car now. the prices will adjust to more realistic levels eventually.
 
These kids PRINT money for a bunch of Ivory Tower F*ckheads(I HATE Educrats). The NCAA should be stripped down and paid like public school teachers. Next to the IOC it's the most corrupt amateur sports organization on the planet. Mark Emmert should be investigated. He's done bad **** at every place he's been. Ahhh, better now, carry on.

Go Canes!
 
DTP said:
The truck is not a 2022. But in fairness, it only gets 30 mpg at around 55mph. Actual highway cruising speeds it's closer to 25. Which is still significantly higher than older trucks. The only way my truck is getting 25mpg is if I drive it down a mountain in neutral.

Also, people are aware that gas prices aren't staying high forever. Back in 2008, people just assumed $4 gas was going to be the new normal. Add in the fact that truck inventories are super low, the values have gone through the roof. I feel bad for anyone who has to buy a car now. the prices will adjust to more realistic levels eventually.
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Sorry when you said he got the "new SRT Supercharged" I assumed 2022, but even 2021 or 2020 or 2019 I doubt he is getting that and none of the specs I see support that.

Do I believe he maybe went 55mph, took his foot off the gas a little and the MPG reader on the truck showed close to 30? 100% I had an old truck that did that where it would instantly read my MPG but it was heavily influenced by my foot. I feathered the gas it was like I was getting 30mph, I stepped on it and it would go down to like 6. I agree with your sentiment about supply and demand and the "chip" shortage but why did people in 08 assume gas prices were staying high forever but not now?
 
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speaking of trucks.

my buddy works for Rivian and I got to drive a rivian R1T and it was badass. truly 0-60 in 3 seconds flat, regenerative braking, and interior is incredible. also more importantly, $30k less than the truck in OP.
 
Cookie917 said:
I agree with your sentiment about supply and demand and the "chip" shortage but why did people in 08 assume gas prices were staying high forever but not now?
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Because everyone remembers 2008. It wasn't that long ago. Gas was expensive for a year or two and then dropped. Prior to 2008 the US hadn't had huge jumps in fuel prices in decades.
 
Samson Doyo said:
These kids PRINT money for a bunch of Ivory Tower F*ckheads(I HATE Educrats). The NCAA should be stripped down and paid like public school teachers. Next to the IOC it's the most corrupt amateur sports organization on the planet. Mark Emmert should be investigated. He's done bad **** at every place he's been. Ahhh, better now, carry on.

Go Canes!
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Naw, FIFA and F1 are definitely more corrupt than the NCAA. The NCAA still has almost everyone beat on hypocrisy, but corruption is more prevalent among the international organizations. Nobody seems to be able to follow that international bribe train.
 
DTP said:
The truck is not a 2022. It's the regular 5.7 liter motor but supercharged. the 6.2 is 700+ hp. But in fairness, it only gets 30 mpg at around 55mph. Actual highway cruising speeds it's closer to 25.Which is still significantly higher than older trucks. The only way my truck is getting 25mpg is if I drive it down a mountain in neutral.

Also, people are aware that gas prices aren't staying high forever. Back in 2008, people just assumed $4 gas was going to be the new normal. Add in the fact that truck inventories are super low, the values have gone through the roof. I feel bad for anyone who has to buy a car now. the prices will adjust to more realistic levels eventually.
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Correct, gas will eventually go down, but it’s still probably still not done increasing for a while before they open up the spigots again. The only question is what will be the peak? 5.00? 5.50? Higher?
 
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