Car donation is certainly a good way of getting rid of your old car. An old car can consume a lot of space and your valuable time for care and maintenance. Car donation process is much simple and easy when compared to the process of selling your old car. There are certain things that you need to know when thinking of donating a car. Some of these are given below –
Car Donation Facts
• Selling your car is a tedious process that involves advertising for your car, locating prospective buyers, showing them your car off and on, arranging paperwork, etc. Not to mention the loss to privacy and possible risk to security. Car donation will eliminate the need of carrying all the above activities.
• Most car donation charities arrange for the towing expenses and hence you need not worry about how to send your car to charity.
• A car donation requires you to fill out a form. It is a simple form that can be obtained online. The same is picked up by the driver who comes to tow away your vehicle.
• Your vehicle is marketed by the charity through different means such as middlemen, own car lots of charities, etc.
• It is recommended that one should check out whether the charity one has chosen is qualified or not. the IRS website carries names of the charities that are qualified to receive.
• When thinking about donating your car to charity, go through the car donation program that is being run by the organization. This information can be obtained from ‘blue books’, guides published by certain trade organizations and commercial firms. Car donation organizations do not need to send you a form if your car eventually sells for less than $500.
• You can shop around on the internet to choose a car donation service that you like. There are several such organizations present in the United States.
• As far as benefits are concerned, a car donor can find a number of benefits other than saving himself from the hassles of selling your car to an unknown buyer. When you donate a vehicle, you become a part of a good cause. Not only this, you can also claim tax deductions on the amount of the acknowledgement receipt.
• One thing that not many people know when they want to donate car for charity is that all the four tires of your car need to be inflated to be accepted by a car donation organization.
• Also, deduction for car donation is only eligible if the car has been itemized on your annual return.
• A car donation tax deduction is allowed up to a maximum limit as per the rules set up by the IRS.
Charitable car donation is becoming popular day by day. To donate your cars easily and quickly, you can contact a vehicle donation center which works on behalf of its supported charities. One such website is carshelpingamerica.org/articles.