It can be a daunting task to sell an older car. Not only do you have to respond to queries and deal with time wasters but not everyone enjoys the haggling that goes along with someone trying to "wheel and deal" with you. Besides, the longer the old car sits on your property, the faster it's going to depreciate in value (as well as being in your way!). We all know that trade in values are minuscule from car dealerships, especially in the current economy!
Car donations help you unload that old car quickly and easily with benefits to a charity and to you. It can definitely help you at tax time! When you donate a car you can get a tax receipt for a value that might even be greater than the amount of money you'd sell the car for. It's typically much higher than scrap value so even a car that's not in very good shape can fetch a donation receipt that can help you at tax time. When you add up the time and hassle savings with the benefit of an IRS tax receipt, this could be a great idea.
Not only will you help yourself when you donate a car to charity at tax time but you're doing something fantastic for that charity. Charitable organizations can use your donation several ways including:
-Selling the used car at auction
-Donating the used car to an individual or family who's life would be enhanced by having transportation
-Sending the car to an automotive school where people can be trained and gain skills to get jobs and then the car can be sold for a profit to that charitable organization
-The car parts from a used car could be marketed individually to benefit the charity as well.
How do you donate your car to charity?
There are charities that accept used vehicles donated to them directly but due to the logistics of getting the vehicle, managing the transfer of ownership, handling the receipt, and other such administrative tasks, a lot of charities look to an organization that will manage this process from start to finish for them. The management does include a fee but is typically much lower than the cost of the administrative tasks associated with the charity doing this themselves. The person who donates does not have to pay a fee and any fees do not come out of your amount on your tax receipt!
By finding a vehicle donation center to deal with, you can make the donation process simple. With a quick call or e-mail you can arrange to get an evaluation of your vehicle, arrange pick up and get your IRS tax receipt. Some car donation centers even provide a list of supported charities so you can decide who will benefit from your generosity as well.
While many consumers trade in their cars or sell them to other buyers, is there something more significant that you can do with your old car? Absolutely!
When you donate your old car to charity you can not only benefit yourself but also a worthy cause. Let's look at the positives of donating a car to a charitable organization:
1. Tax Write-off. When you donate a car to a charity, you receive a deductible tax benefit equal to the price that your vehicle was sold for.
2. Tax Deduction. If the charity of your choice decides to use your vehicle in a way that is defined by the Tax Code instead of selling it – your tax deduction is based upon the current fair market value or (i.e. Kelly Blue Book value) of your donated car.
3. Knowledge of a Good Thing Done. Giving to a charity is one of the best rewards in and of itself. You are helping someone else in a way that is significant and car donations go a long way in making certain that charities fulfill its mission and its vision while not going over their budget.
4. Increase Storage, Decrease Clutter. An old car that you are not using just takes up space in your garage, driveway or yard that you could use for other things such as storage.
5. Save on Unnecessary Maintenance and Expense. Owning a car, even if you don’t drive it, will cost you money as you will still have to potentially pay property taxes, renew your vehicle registrations and keep your vehicle inspections current as well as keep up the maintenance on the car to ensure its optimal performance and drivability. These are rather high demands for something that you do not even plan to use
Donating your used car to charity would be the best option for you. Think of what you will save as well as what you will be given in return for your donation. You won't have to maintain the car, give up storage space for a vehicle that stays parked most of the time. Additionally, giving helps make the world a better place. There simply isn't any better deal that that!
Just visit our website for more information on Charitable Car Donation and related information.
Both Harveen Singh & Charley Hwang are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Harveen Singh has sinced written about articles on various topics from Iphone Reviews, Acai Berries and Computers and The Internet. Cars Helping America is an organization that can help you donate a car to a worthwhile charity. They will pick up the car for free and provide you with an income tax receipt. Charity begins at home and a. Harveen Singh's top article generates over 9900 views. to your Favourites.
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