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The Downsides to Winning Cars in Competitions

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The 2016 Lexus RC F is aggressively styled, packs a powerful V8 engine, and is priced at approximately $63,000

Winning a supercar like the Lexus RC F would be great, but it comes with strings attached

There are endless contests both online and offline promising new cars as the top prize. These never fail to capture the public’s imagination. This is especially true if the vehicle on display is a shiny supercar. These are incredibly rare because of limited production, and their prices are definitely out of reach for the average worker. It’s a chance for people to own their dream car. Even a modest family vehicle would be of great benefit to anyone and attract a lot of attention. It’s not all sunshine and roses, however. There are a number of downsides to winning cars in competitions.

Fortunately, not all online competitions cause this much trouble. Some are straightforward with no hefty charges to think about. Playing 90 ball bingo is one of these. The game provides players with a lot of fun and none of the stress. They simply have to buy the tickets and wait as the numbers are called out. Their cards can be daubed automatically. If they get the desired patterns, then they will win the jackpot outright.

Scams and Viruses

It is important to point out that many of these competitions are not legitimate. There are scams scattered everywhere, especially online. Always be careful when joining contests as these may just be a way of getting people’s names, email addresses, and other details. These can then be used for identity theft. Hackers¬†will utilize the information they got to purchase items using credit cards, transfer funds to their accounts, and similar schemes. People can lose tens of thousands overnight because of these. Always check the organizers of the contest to see if they are respectable organizations.

These fake contests may also be used to spread viruses. Some of them can be found on social media imploring people to like and share a certain link to get an entry. Once they open the link, a trojan virus will get downloaded into their system and work in the background. This trojan could be programmed to do any number of things from erasing the files to locking the system up. It could also steal information like usernames and passwords, as well as other vital details. If you see a random pop-up message that says you just won a car or any prize, close it immediately.

Taxes and Other Fees

There are, of course, legitimate competitions advertised by banks, television shows, and companies that are out to promote their brand. They know that this type of contest is irresistible to lots of people, making it an excellent marketing strategy. These are governed by rules and standards so it’s safe to join them. Winners will truly get their prize as promised which is a good cause for celebration. However, there may be a few catches along the way. For instance, the prize may be subject to a hefty tax, which they would have to pay in order to receive the car. They would also have to pay the usual fees to have it registered in their name, get insurance, pay for parking space in their building, and so on.