If that old 1969 Ford Mustang is just sitting in the garage not doing anything, maybe it’s time to offer your car to a charity accepting car donations. Okay, so maybe asking you to donate the vinntage‘69 Mustang might be a bit too much, but even the old beat-up Chevy Nova sitting on the side of your garage has some value. It is possible, no matter what kind of shape your car is in or what model of car you have, to donate your car to some charity organization. Generally the only stipulation is the car has to run.
Most charity organizations love to receive vehicle donations. It is a great way for them to sell the car and get some cash flow for the organization they represent. You might be asking yourself right now how to donate a car. It is actually quite simple and there are even some benefits to giving your car away. The following paragraphs will outline some simple steps most charity organizations take to accept these donations.
In most cases, charities will have you fill out an application for the car. The charities will usually have an 800 number you can call if you wish to speak to a live representative. The representative can answer further questions you might have about making a donation.
The organization will typically send out some forms you will need to sign. These forms have to do with transferring ownership of the vehicle. You will also need to sign over the title of the vehicle when making the donation.
Many charity organizations will offer a service to come pick up your vehicle for the car donation. You just need to arrange for a time when someone from the organization can stop by and take the car away.
Most organizations will offer a formal letter of thanks for the donation. You need to hold on to the letter because it identifies all car donations as tax-deductible by the standards set by the IRS. Organizations asking for donations can usually print out a Kelly Blue Book value for the donated car. The printout may be used in helping you determine the fair market value of any or all donated cars. Whoever is in charge of doing your taxes should also be aware of these donations, as he or she is the best source of information regarding charitable tax deductions.
Once the car is donated, the charity organization will typically have an auto auction. The auction will have all cars available to bidders at the auction. The cars are then sold to the highest bidders and that’s the end of the history with your car.
As stated already, many charity organizations accept vehicle donations. If you have a vehicle you would like to donate, contact local charity organizations to see which organization interests you and then ask about donating your car. Charities can certainly benefit, and hey, you need the tax write-off for the car donations anyway.
By John Ivie