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Car Donations: FAQ
By Timothy Rea
Is donating a car right for me?
If it’s a heap and needs extensive work you need a car donation, because there’s no point in giving your wallet a beating. Why pay a thousand dollars in repairs if the car is only worth a few hundred? Who is to say it won’t break down again shortly thereafter, costing you even more? Are you in the market for a new car and you don’t want the hassle of listing a vehicle for sale and struggling with potential buyers gouging your time asking questions, wanting test drives and trying to get you to drop your price? Making a car donation is a smart option. Do you want to help out a favorite charity but never have the “perfect time” to give them a hundred dollars, five hundred dollars or more? Donating a car is right for you. Even if your car does not run, you are still able to donate it.
What places can I donate my car to?
Which deserving charity gets your help? There are many to choose from, including United Way, American Lung Association, The Red Cross, The Boy Scouts, Habitat for Humanity, The Humane Society, The Kidney Foundation of America or the Salvation Army. Or you can choose something local that will aid your community exclusively. Church groups, schools and local hospitals are all places to check.
Is donating my car a hassle?
Not at all. Most places will come to you for a pickup within all 50 U.S. States. The company will come with a tow truck to where your vehicle is at your convenience. It can be towed anytime during the week that you have time, usually within the week and some organizations can do rush pickup within a day or two. You do not have to pay anything for them to come and take it. All you have to do is make a call, sign over the title and the charity organization will take care of the rest.
Donating my car gives me a tax write off, right?
Yes. If your vehicle is worth less than $500 they’ll give you a receipt quickly, perhaps as soon as when they pick it up for towing. If it is worth more, it will take longer to get your receipt. They will mail you a receipt for the final value they received. Once you have the receipt detailing your gift of a car donation, hold it until tax time to be itemized. You most likely have a general idea of what your automobile is worth. Kelley Blue Book will also aid you in assessing the value of your gift.
What qualifies as a “car” donation?
Your junker that doesn’t run but hogs space in your driveway. A Jeep, a pickup truck, your RV, a station wagon. If it has wheels, it’s most likely eligible. Many charity organizations will even accept boats.
How much of the money made from my vehicle sale goes to my charity?
Larger non-profits will use 100% of the proceeds to further your charity. If it is a smaller company or a local company, they may take a percentage for the go-between people.
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Copyright 2006
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