How to Donate a Car to Charity
Why not donate a car to charity? It's been sitting in the garage for several years. If you don't use it, why not help some else? Your act of kindness will help someone who is less fortunate than yourself and you can get a tax deduction if you choose. There are organizations that will take your donation and improve the life of some disadvantaged family.
These cars are repaired, fine tuned and sold to help single single Moms returning to work, disabled who want to work, etc. There is no price gouging and the person purchasing the car are allowed to make affordable payments, so that they can purchase a car without a large car note.
Once your have decided what charity you will be using, all your paper work is filled out and signed, and you have proven ownership of the car you are just about done. Now you have only to, sign over your car title and keys to your charity.
The Value of the Car
Before you donate a car to charity, calculate the market value of your car using Kelly Blue Book or Edmonds, which are usually very reliable resources.
Also consider how much you would ask for the car if you sold it personally. New York’s’ tax system is about 7%. You will use these calculations when reporting your donations to the IRS.
The car you donate does not have to be show room new, now does it have to be in working order. Charities who receive car donations, have their own talented mechanics that can make necessary repairs.
Cars for US Troops
Cars for US Troops, is an organization that takes your used car and turns it into a reliable form of transportation for a veteran. These brave men and women put their lives on the line to keep this country safe; yet they are often, the poorest paid in the country.
If you have a car you would rather donate to a US veteran, there are organization that will take your donation. They make the process as simple as possible. You can make the donation online or call the toll free number.
Fill out the application, stating you full name address, phone number, when to call, as well as the make, model, year of the car, and mileage and Vin number. Also tell what the issues of the care is and what need to be fixed. They ill call you back and arrange for a time to pic up the vehicle. CarsForUSTroops
Charities try to make donating a car as simple as possible. Go to the site or call the charity to find out the process and what type of documentation you will need.
New York uses the organization, Donate for Charity, as their clearing house so give them a call to get more information or find out what organization your charity uses as their clearing house for car donations.
Vehicles valued over $5,000 require profession appraisal before he donation can be made. This appraisal is done by the organization or clearing house as you are the one giving you car to charity. Make sure the organization you donate your car to is licensed and registered with the IRS or you will not receive a deduction for your donation.
Evaluating a Charity
Make a list of your favorite charities, research their donation process and how their donations are used.
You will want to use a charity that gives a minimum of 70 -75% of its programs income back into the car donation program, rather than to operational costs.
To determine what portion of you donation a charity donates to the cause go to CharityNaigator.org or GuidStar.org. These organizations do all the work for you, by evaluating and rating charities.
There are several well know and responsible charities that accept cars, so do a little research to find one you are comfortable donating your car to. Goodwill Industries, is one well known charity that received cars and refurbishes them to sell to participants of the Cars for Work program. You can go in person on go online and fill out a donation application.
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