Donating Your Old Car to Charity
Want to get rid of an old vehicle? How about donating it for a good cause instead of selling it? There are many charitable organizations across the globe, which accept vehicles as donations. While some organizations use these second-hand cars for picking up the elderly for doctor appointments, transporting food to the differently-abled and other charitable purposes, others auction them, using the proceeds to fulfill the needs of the underprivileged. Not just cars, you could even donate two-wheelers, vans, jeeps, mini-buses and other vehicles.
Reasons Why You Should Donate a Car to Charity:
As well as being an incredibly rewarding experience, car donations also result in tax deductions in most countries. You will just need the written receipt of your donation. Check with your local government agency what type of tax rules are applicable in your area. You can also donate car to charity instead of going through the hassle of finding potential buyers, fixing a fair price, negotiating etc.
Determining The Value of Your Vehicle:
Firstly, you should be aware that you won’t be given cash for your donation, but only tax deductions. The sale price of your car would be the biggest factor to calculate the estimate deductions. There are many used car guides available locally where you could determine a rough estimate of your vehicle. The value would but decrease if your vehicle is not functioning properly.
Donating Wrecked Cars and Vehicles Without a Title:
No matter what condition your car is in, you can still donate it. With proper research, you will find a list of charities that accept accident-damaged and wrecked cars. Though many charities refuse vehicles without titles, you can still find a couple of organizations that could help. As the registered owner of the vehicle, you will just need to sign a few papers. Also, you should ensure that the car is lien-free.
Finding The Right Organization:
You will come across countless charities in your local area, But you need to ensure that the one you’re donating to is a reputable one. Do a little bit of research and ensure that the one you’re choosing qualifies to receive tax deductible contributions. It is better to opt for a charity which doesn’t involve middlemen. Since the rules vary from country to country, it is important to ask the charity for a written acknowledgment and other necessary documentation of the donation.
A Few Tips To Keep in Mind:
Many charities will pick your vehicle from your doorstep for free. But you should keep in mind that sometimes the cost of towing the vehicle is deducted from the estimated value. You can check this with your charity in advance, and if they charge for towing, you could drive in your vehicle yourself. You need to keep all the information related to your vehicle ready. You can even take pictures of your car before donating it. For your reference, you can ask the concerned charity how they’ll be using the vehicle.