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Should she have kept the Nissan Versa?
Kate Steinberg (@itskatesteinberg) was a lucky winner of a brand new car on The Price Is Right. She won a 2025 Nissan Versa but never even drove the car. She didn’t want to keep the compact car, so she left the Nissan dealer, where she had a free car waiting for her, and walked across the street to the Toyota dealer.
In her TikTok clip, Kate shares her excitement as she immediately trades the Nissan Versa car credit from the popular game show for a 2025 Toyota RAV4. The thrill of the trade is evident. But did she make the right choice? Now, her “free” car comes with a car payment.
Kate says, “The Price Is Right, making dreams come true. Holy s—t, this Toyota RAV4 is such an upgrade,” sitting in the new Compact SUV. “In my Chevy, I was so low,” Kate says as she sits in the seat of the taller RAV4.
Her fiancé, Chad Savage, comments, “It’s so clean” he says as he pumps his arms and dances around the car. “It’s a big dog, roof!”
In Kate’s TikTok clip, she continues, “Remember when I won a car on The Price Is Right? The day has come. I won a Nissan Versa. You could keep that car or take that credit and get a new one, so that’s what I did.”
“I’m going to pick up the car right now,” she says, walking into the Toyota dealer.
“Here’s my car. It’s a Toyota RAV4,” Kate says as she kisses her new car. Then, she takes the plate from the Nissan Versa that says, “I won this car on the price is right,” and jokes about putting it on her new Toyota. She tells her fiancé, “Here, you put it on.”
In another future video clip, I can hear her saying, “I didn’t want the Nissan Versa, so I traded it for a Toyota RAV4. But my “free” car now comes with a $400 a month car payment.”
Should Kate have traded the Nissan Versa she just won?
The Price is Right winners often trade their car prize for something else, typically another car of comparable value, or sometimes for cash, says an article on Good Housekeeping. However, the exact process and options can vary depending on the specific car, the dealership involved, and the rules of the episode.
Trading for another car: Many winners have reported being able to trade the car they won for a different model of the same make and value, or sometimes even a slightly different model with a few extra features, according to a Reddit post.
Reddit user On-A-Low-Note says, “I’ve read in the forums here that people who win cars more or less win a gift certificate that promises them a car from a dealership that can source it, rather than the one you see on stage. People mention they can often request better packages than what they actually won, probably out of their pocket.”
Ozarkfireworks responds, “They do not add dealer premiums or fees. Only tax tag and title. You must also claim the winnings on California and Federal income tax forms. TPIR requires you to pay the 7% California income tax upfront. Dealer premiums and dealer fees are two different things, by the way. Your description is dealer premium, not fees.”
“They do not give you a voucher; they contact the dealer to give you your car/boat. The dealer will then contact you with your options. We were allowed to upgrade. Others have reported they were not given that option, even after asking. When we asked contestant support, they told us it was up to the dealer.”
Things To Consider
- Taking the cash value: In certain situations, winners might be able to opt for the cash equivalent of the car’s value instead of taking the car itself. One post on Reddit explains this.
- Dealer discretion: Whether these options are available depends on the specific car dealership involved, as they can negotiate deals with the winners.
- Obligation to deliver: The show must provide the winner with the prize or a comparable item within a certain timeframe. They offer a substitute or the cash value if the exact prize is unavailable.
- Tax implications: Winners should be aware that they must declare the winnings as income and pay taxes on the prize, says Good Housekeeping. This can be a significant cost to consider when deciding whether to keep the car, trade it, or take the cash equivalent.
How Much Is the Nissan Versa Worth?
The 2025 Nissan Vera MSRP.
The 2025 Nissan Versa has an MSRP starting at $17,190 for the S trim with a 5-speed manual transmission. The top-end SR trim has an MSRP starting at $21,190. Kate likely won the lowest trim level.
The 2025 Toyota RAV4 MSRP
The 2025 Toyota RAV4’s MSRP ranges from $29,250 for the base LE to $38,950 for the top-trim Limited.
From Kate’s TikTok video clip, it looks like she traded for a lower trim LE or XLE. Her MSRP would have been about $30,000. So, she would have had to finance an extra $13,000 after The Price Is Right Nissan Versa credit voucher.
The car payment on a $13,000 loan for 48 months for the 2025 Toyota RAV4 would be approximately $368.47 monthly. It will be about $450 if she finances the RAV4 for 36 months.
Conclusion:
Generally, “free” cars contestants have won aren’t so free after you pay the taxes, license, and dealer fees. When someone trades the car credit from the TV show for a more expensive car, it costs them much more. The financial implications of such a decision are significant and should not be overlooked.
Kate now has a nearly $400 car payment, depending on how many months she financed the 2025 Toyota RAV4. Was it a good deal?
What Would You Have Done?
I’ve presented Kate’s situation and the various factors at play. Now, we want to hear from you. What would you have done in Kate’s shoes? Share your thoughts in the red Add New Comment link below.
Check out my Toyota RAV4 story: I Paid Too Much For My 2024 Toyota RAV4 Because the Dealer Stung Me By Issuing a Verbally Undisclosed Credit Card For an Extra $1,500 Down Payment
I am Denis Flierl, a Senior Torque News Reporter since 2012. My 30+ year tenure in the automotive industry, initially in a consulting role with every major car brand and later as a freelance journalist test-driving new vehicles, has equipped me with a wealth of knowledge. I specialize in reporting the latest automotive news and providing expert analysis on Subaru, which you’ll find here, ensuring that you, as a reader, are always well-informed and up-to-date. Follow me on my X SubaruReport, All Subaru, WRXSTI, @DenisFlierl, Facebook, and Instagram.
Photo credit: Denis Flierl via Kate Steinberg
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Source: torquenews.com
