You have to love a loophole that allows you to actually make money when buying a golf cart. Last week I posted a story about part of the stimulus package (signed by Bush) that allowed for a tax credit for buying road legal golf carts. It gets better... when you add in the fact that many states have their own tax credits to throw into the mix, you can get enough government money to get a cart free OR if you're really creative- you get a free cart (or close to it) then sell it right back to the dealor for about 1/4 of the price for cash and walk away with about $2000.

In South Carolina, sales of these carts have been soaring as dealerships alert customers to Uncle Sam's giveaway. "The Golf Cart Man" in the Villages of Lady Lake, Florida is running a banner online ad that declares: "GET A FREE GOLF CART. Or make $2,000 doing absolutely nothing!"

Golf Cart Man is referring to his offer in which you can buy the cart for $8,000, get a $5,300 tax credit off your 2009 income tax, lease it back for $100 a month for 27 months, at which point Golf Cart Man will buy back the cart for $2,000. "This means you own a free Golf Cart or made $2,000 cash doing absolutely nothing!!!" You can't blame a guy for exploiting loopholes that Congress offers.

Pretty sweet deal, right.. (I'm felling like Billy Mays, RIP) IT GETS BETTER!

The IRS has also ruled that there's no limit to how many electric cars an individual can buy, so some enterprising profiteers are stocking up on multiple carts while the federal credit lasts, in order to resell them at a profit later. We should note that some states, such as Oklahoma, have caught on to the giveaway and are debating whether to cancel or limit their state credits. But in Congress they're still on the driving range.

Hmmm... wonder how fast I can establish residency in South Cackalacky?

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