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.
In fact, sometimes what happens after you get a “free car” - or even a brand-new one you’ve purchased - can lead to unusual and unexpected frustrations. Just ask the owner of a Hyundai Palisade who began hearing a spark knock noise before hitting 30,000 miles, only to be told by two different dealerships that nothing was wrong, even after performing a cleaning service. His journey sheds light on how even the most promising vehicle experiences can suddenly turn sour — especially when the problem hides just beneath the surface.
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
Comments
What anyone should do is if…
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In reply to My daughter did the same… by Deb (not verified)
What anyone should do is if you don't like the car take the money. Price is right should give you the option to take cash instead of the car.
If I were Kate I would have…
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If I were Kate I would have kept the Versa, taken good care of it while saving 15-20K to get the car I wanted. I have a Version, 2024, and this is exactly what I am doing...without car payments. WHY pay interest if we don't have to?
The way cars deprecate…
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In reply to If I were Kate I would have… by Clara (not verified)
The way cars deprecate though, you would probably lose more than the interest. You would want to do the math carefully, checking rates and depreciation history for similar models to figure out which path is optimal. I doubt there is one cut and dry answer for all situations.
Obviously she knew the…
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Obviously she knew the repercussions of basically using the Nissan for a down payment on the Toyota so in the end it helped significantly
Why would I do that? I'm not…
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Why would I do that? I'm not as stupid as she is. You'll never know if it has got string attached. Besides, that's a 2025 model and Nissan is better than Toyota in terms of engine quality and performance. Quality is more important than what or how it looks.
Toyota has higher…
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In reply to Why would I do that? I'm not… by Clint Valeros (not verified)
Toyota has higher reliability ratings, isn’t on the verge of bankruptcy and maintains a higher resale/trade in value for a significantly longer time. She made the right choice. And god forbid is it happened to be an automatic transmission Versa…she would have had transmission failure to look forward to as well.
Why is there so much name…
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In reply to Why would I do that? I'm not… by Clint Valeros (not verified)
Why is there so much name calling and downright nasty comments? Maybe she is not stupid? Maybe not as knowledgeable as some about cars, but that doesn't make her stupid.
I don't know much about cars…
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In reply to Why would I do that? I'm not… by Clint Valeros (not verified)
I don't know much about cars either, but that doesn't make me stupid.
Nissan better than Toyota???…
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In reply to Why would I do that? I'm not… by Clint Valeros (not verified)
Nissan better than Toyota??? This the only car news you know huh!? Nissan won’t even make it to 2026! They shutting down bc their “better built “ cars are so poor quality !!!please educate your self in the topic
Hey dummy? Toyota engines…
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In reply to Why would I do that? I'm not… by Clint Valeros (not verified)
Hey dummy? Toyota engines are far better than nissan due to longevity and efficiency. You’re purely going off performance, which is hilarious bc most ppl dont give a damn how fast the car goes, just how long the car will last. What a bold yet still incorrect statement.
Why would I do that? I'm not…
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Why would I do that? I'm not that stupid. You'll never know if has got strings attached. Besides that's a 2025 midel and regardless of sales, Nissan is better than Toyota in terms of quality and perfirmance. Quality is more important than how it looks. Practicality matters most. She needs sound advice when it comes to Asian cars.
According to Consumer…
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In reply to Why would I do that? I'm not… by Clint Valeros (not verified)
According to Consumer Reports , Toyota and especially a Rav4 has a much better rating than any Nissan.
She's a woman. Of course she…
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She's a woman. Of course she's going to make the emotional choice over the logical one. Lol.
Nothing is free... I know a…
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In reply to She's a woman. Of course she… by Pat (not verified)
Nothing is free... I know a guy who won a Corvette on the Price is Right and he still paid over $35,000 because there is a win tax he said and it's a lot higher than sales tax. You also have to consider the fact it's in California which the cost of living for EVERYTHING is much higher.
Idk why y’all men think yall…
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In reply to She's a woman. Of course she… by Pat (not verified)
Idk why y’all men think yall don’t think emotionally. Nothing yall decide have logic behind it. Men and logic should never go together
Hey you, that's a very…
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In reply to She's a woman. Of course she… by Pat (not verified)
Hey you, that's a very sexist thing to say, and it doesn't make for a strong opinion. Both sides are reasoning out their views here, with numbers and dealership experiences. Please do the same.
I'm a woman. As soon as I…
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In reply to She's a woman. Of course she… by Pat (not verified)
I'm a woman. As soon as I read the title I said to my husband this was a dumb decision. Don't assume we're all emotional- I don't give a shit about anybody- except my husband - dollars make all my decisions
UNREAL how you said this…
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In reply to She's a woman. Of course she… by Pat (not verified)
UNREAL how you said this about being a woman ❗️❓❗️
Never should've Crossed the…
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Never should've Crossed the Street. She made a Terrible decision. Unless the Dealership was being Difficult. Just Upgrade and Be Flexible. Leave When The Dealer Is Paying You 400$
She should have bought an…
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In reply to Never should've Crossed the… by chrisJ Merics (not verified)
She should have bought an American built car.
She should of sold the car…
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In reply to Never should've Crossed the… by chrisJ Merics (not verified)
She should of sold the car and put on down payment for a house,or but it stock market.
My take: if anyone had ever…
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In reply to Never should've Crossed the… by chrisJ Merics (not verified)
My take: if anyone had ever given me or had I ever won a brand new vehicle I would’ve been extremely happy to pay the taxes, and driven it joyfully off the lot! No car payment? That’s a no brainer. I’ve had a lot of car payments in my long life I was always relieved and happy when the payments stopped. I’m from a different generation.
I would have kept the Versa…
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In reply to Never should've Crossed the… by chrisJ Merics (not verified)
I would have kept the Versa. Doesn't make financial sense to me.
I would have kept the versa…
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In reply to Never should've Crossed the… by chrisJ Merics (not verified)
I would have kept the versa. I've owned one and it was a good car. I sure she's young because FREE is better than with a FEE any day.
She made the right choice if…
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In reply to Never should've Crossed the… by chrisJ Merics (not verified)
She made the right choice if she can afford it. I would have kept the Versa bc I don't want a more.
Ultimately, the choice was…
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In reply to Never should've Crossed the… by chrisJ Merics (not verified)
Ultimately, the choice was hers. Based on your story it sounds like her husband was involved as well. So I'm sure the two of the made the choice of what to do together. Even if she was acting alone though, I don't think it's fair to attack her on a personal level just because of her gender. That's a real bad look man, I mean you're entitled to your opinion, but it really makes you look like an ass.
As someone who generally could be considered a car enthusiast I'm not up to date enough on the average Nissan or Toyota to say whether Nissan is producing better engines these days than Toyota. I find that claim extremely suspect though as Toyota has long had a reputation for quality and was the first car maker to employ statistical quality control methods (aka Sigma Six QC methodology) into their automobile manufacturing processes. Which earned Toyota a pretty solid share of the automotive market in the US starting back in the 1980s or possibly even earlier. While that doesn't mean that Nissan isn't (or isn't capable of) producing higher quality engines now, in 2025, Toyota still has a very solid reputation for building engines and cars that will last for a very long time. But the way I see it, she essentially had the option to either get a $20,000 car for only the cost of dealer fees and taxes or the option to subtract $20,000 off the price of a car of her choice, or presumably, the option of taking the cash value of the Nissan, paying the taxes, and going home with what was left of the cash.
But, assuming she did what the article implies - which was to use the value of the Nissan to take $20,000 off of the cost of the Toyota, which is what she actually wanted, and financed the difference for 48 months, assuming she looked at her finances and felt confident she could afford the extra $13,000 she spent (or, based on the article, financed for 48 months at $400/mo), then that is absolutely her prerogative.
We don't know everything about her situation. Maybe her and her husband have three or more children and need more space then the Nissan Versa, which I'm guessing is a compact car rather than an SUV. The only real thing that may have been worthwhile advice for her or for her to at least take into consideration, is the possibility that interest rates may go down Within some reasonable amount of time and it would have made sense to wait a while before cashing in her $20,000 coupon. That also assumes that both her and her husband had reliable vehicles currently, such that they were not going to continue to be inconvenienced by only having one vehicle or only having one reliable vehicle. I mean, first and foremost what anyone does with their money or other assets is up to them, some of us may look at their actions and say well maybe that wasn't the smartest move, but it wasn't our money nor our situation therefore who are any of us to call her or anyone else out for the decisions they make? If they had asked for advice, then sure, someone could have said well maybe assuming that you don't need a new car right now or a second car as soon as you can possibly get one it would be better to try to wait for interest rates to come down. If it would have been me, and I were handed a $20,000 coupon towards a new car, I would have likely gone to a Mazda dealership and bought a new Miata with an fashioned clutch and manual transmission. And I would have likely ended up having to finance somewhere between $5,000 and $10,000 depending on what options I wanted on the car. I would have likely opted for a retractable hardtop and whichever version had the most powerful engine. However at the same time, if I could have saved money by opting for cloth seats/interior over leather or something similar I would have probably done so. However, my situation is different. I'm single, male, and have no children. So a two-seat car with great handling for under 30 grand brand new would have been my first choice. Apparently her requirements for a vehicle necessitated more than two seats and possibly something that would be able to travel in snowy weather without too much issue. Which a rear wheel drive Miata would not have been very capable of doing.
The responses here are very emblematic of everything that seems to be going wrong in this country right now. Everybody seems to think their point of view is the only correct point of view, and anyone with a different outlook is wrong. I may be getting a bit off topic but, the bottom line is she did what she wanted and none of us have any right to judge her for it. We, of couse, can say what we would have done personally in the same situation - realistically, it would probably have been best for me, in all honesty, to pay the taxes and come home with the rest of the cash because I have a car that, at least as of right now, is reliable, although it is not new. While the US Constitution does Protect free speech, in my opinion it is not the place for any of us to put her down, and it is in extremely poor taste to say that she made a bad choice simply because of her gender. When you or I win a car on The Price is Right, then you can do what you want to do, whether you are male, female or something in between.
Good points!
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In reply to Ultimately, the choice was… by Ben Arnold (not verified)
Good points!
I found myself in a similar…
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I found myself in a similar situation a number of years ago. Probably close to twenty years ago. I won a Kia Rio in a sweepstakes. This was most likely one of the first years they were made and they were pretty much considered bare bones transportation that likely would not last. I have been a Toyota guy. So I went to the Toyota dealership to trade it in. They gave me an insanely low amount for it. Probably about seven thousand dollars. I traded it in on a Corolla. And I was very happy but I did have a payment. On the other hand that Corolla lasted me 265000 miles before I sold it.
Every time I’m offered…
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Every time I’m offered something for free, my first question is “how much is free going to cost me”.
If I was in her shoes and…
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If I was in her shoes and had a car already that was newer I would have taken the cash value and put aside the tax portion and used the money for something else. If it was an older car I would have upgraded as well but stayed at the Nissan dealer and found a suitable car I liked.
Pagination