0
While the “cash for clunkers” program put a hamper on some charitable car donations, making the choice to give a used car to a nonprofit organization is still an option that many worthwhile causes hope more former car owners avail themselves of. It is easy and quick to find an organization that will accept donations of cars, RV, snowmobiles or other motor vehicles. This altruism will not only help out a fellow man but, depending upon the value of the vehicle, earn a nice tax write off in the process.
Overview
While some may have heard about these programs in the past they may not have an idea of what these organizations do with a charitable car donation. A lot depends upon the condition of the vehicle. In the case of a car that is still in working order the organization will often sell it to a used car dealer for fundraising. If the car is not working, cannot pass emission standards, or is “junked”, they can also break down what is usable about the car and sell it off for parts. Some organizations do this directly while some do this through an independent car parts salesman.
Benefits
A charitable car donation, depending upon the value of the vehicle, can earn an organization in one sale what months and months of car washes and other fundraising efforts can do with less cost. This is a great way for those groups to earn money and not have to outlay their own. For the donor, altruistic intentions aside this can also provide a fairly good tax deduction if the person itemizes their expenses. To qualify for a deduction, the charitable organization must be registered with the IRS as a non-profit, non-political organization. The IRS’s web site provides a list of organizations that qualify, and even if you are not interested in the tax write off it can be a great resource for locating a worthwhile cause. Another place to find information is the local Salvation Army or Goodwill. Even if that particular location does not do car donations, they may know of an organization or fundraising effort that does. In larger towns charitable car donation groups may be listed in the phone book.
Conclusion
Rather than sending your car off to the junk heap, consider making a donation, consider making a charitable car donation. You’ll help out a worthwhile cause and maybe keep a few bucks from Uncle Sam down the line.
What else can I help you with?
What amount can I deduct from my taxes for a charitable car donation?
You can deduct about 500 dollars through car donation
Is a car donation considered a gift?
Yes, a car donation is considered a gift when you donate your vehicle to a charitable organization.
What kind of charitable donation might include a car as a prize?
The kind of charitable donation that might include a car as a prize is the kind that aims to get quite a large sum of donations. Giving the car as a prize may be a way to show appreciation.
Which charitable organizations will pick up a junk car donation from my home in Indianapolis?
Car Angel (carangel.com) will do this anywhere in the country.
Which charitable organizations accept the donation of a used car?
Charitable organizations that accept donations of used cars include Charity Car Canada, Donate A Car, Charity Navigator, and Canadian Diabetes Association.
What can you claim on your taxes for a donated car?
You can claim the charitable donation amount for the value of the car. The charity should provide a receipt with this amount listed.
What kind of tax benefits are there for a charitable car donation?
You can write off the total value for which the car is sold by the charity from your federal income taxes.
Do you still get a charitable deduction for junk car donation?
You can still get a tax deduction for the donation of your old car. You will receive a deduction that equals the actual fair market value of the vehicle, and you cannot automatically receive the maximum allowance.
Is a charitable car donation a good idea?
Charitable car donations can be a great idea if you have a vehicle to get rid of and you don't think you'll be able to get much for it in a trade or selling it yourself. Also, donating to a charity can be written off on your taxes.
Which organizations accept charitable car donations?
Feed the Children, Children's Wishes, Unicef, DARE, and St. Jude Children's Research Hospital all accept charitable car donations. To find more organizations that do, one can go to the Car Donation Wizard website.
Where might one learn how to donate one's car in New York?
There are several ways a person can donate a car in New York. The American Heart Association accepts the donation of vehicles. Wheels for Wishes also accepts the charitable donation of vehicles. Other organizations who accept charitable donations of vehicles can be located by checking with local human services departments.
Where can I make a charitable car donation in Chicago?
ChurchandCharity.org has a drop off site right in Chicago. PurpleHearts is a VA charity that takes cars in Chicago. DonateaCar@Charity will also accept your car in Chicago. There are several charities that accept a vehicle for a donation. I would suggest visiting www.kars4kids.org.
