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Home Business Non Profit Organizations Donate Your Car And Save Taxes
Donate Your Car And Save Taxes PDF Print E-mail
Written by fred frung alfred solk greta gunto preston friedheim vitaly sonnborn   
Monday, 26 January 2009 09:42
You have fallen in love with a brand-new car. The only problem is that you won't have room in your driveway for a new car until you have disposed of your old one. You could place a classified ad and sell it, and deal with calls from buyers and paying for repairs to the car to make it appealing to a new buyer. You could trade it in at the dealership towards your new car, but you know that the dealer will not give you anywhere near what the car is worth. A local charity has been advertising that they will accept your unwanted car, but you are not sure. Donate your car? Are there benefits to giving up the potential profit on your car's sale to a charity?
by fredfrungalfredsolkgretaguntoprestonfriedheimvitalysonnborn


You have fallen in love with a brand-new car. The only problem is that you won't have room in your driveway for a new car until you have disposed of your old one. You could place a classified ad and sell it, and deal with calls from buyers and paying for repairs to the car to make it appealing to a new buyer. You could trade it in at the dealership towards your new car, but you know that the dealer will not give you anywhere near what the car is worth. A local charity has been advertising that they will accept your unwanted car, but you are not sure. Donate your car? Are there benefits to giving up the potential profit on your car's sale to a charity?

Simplicity. Charities that accept car donations are professionals, and have made the donation process as quick and painless as possible. A worker will come to your home; you will sign the car over to the charity, and receive a tax donation receipt for your donation. Then the car will be towed away, and you will have room to park your new car the same day.

Help someone in need. Whether it is an animal shelter, food bank, or some other organization, there is likely a charity that you think highly of. When you donate your vehicle to charity, you get to give a substantial gift to support a cause you believe in. The organization that receives your car can sell it and use the money to fund programs to help those less fortunate.

Put some money in the bank. It might seem counterintuitive, but sometimes giving your car to an organization can also be a good financial choice for you. First of all you won't have to pay to repair and detail your car to sell it or trade it in. You won't have to place costly classified ads, or continue to pay the insurance and registration fees on your car while you await its sale. Finally, come April 15th, you might be surprised by how a car donation can reduce your tax bill, putting a bigger refund in your pocket.

Consider all the options when disposing of your vehicle, you might find that donation is a choice that works for you.

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See how to donate your car to charity and other interesting topics on Donate Your Car.

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