Car Donation
If you do not need your old car anymore, there is an avenue where you could explore and consider called car donation. Car donation services exist to take cars people no longer want and use them for charitable purposes. To some people, giving away a car seems like a crazy thing to do. However there are definite benefits to car donation for many. Let's say you have an old car in your yard that no longer runs properly. It is an eyesore, it is taking up valuable land space and you know you won't be able to sell it for much of anything. What can you do? Well, you can donate the car and write it off on your taxes as a charitable contribution.
The whole process is quite simple from start to finish. Most services will take almost any vehicle as long as it is intact. They will tow it away at their expense, saving you the hassle. And, they will provide you with the proper paperwork so you can get a hefty deduction. According to the IRS, you may be able to get up to $500 in deductions for your donated vehicle. If the service you donated your car to sells the car and the sale price exceeds $500, they will send you an official letter stating the sale price in the mail.
You may wonder what will happen to your old vehicle after you donate it. This will depend on the needs of the charitable organization and the condition of the donated vehicle. For example some donated cars may be used by the organization itself while others may be given or sold to needy people at an affordable price. Others are repaired and put up for sale in the general public market with the proceeds going to the charity and whatever they deem most important. There are car donation facilities located around the country and you should always research a facility before donating your vehicle.
Most car donation services are perfectly legitimate organizations that you can feel good about helping. Often you can even choose which specific charity you want to help through your car donation. You may also want to check with your local United Way and/or Salvation Army when considering car donation. They may be able to point you to the right organization or may accept car donations themselves. Besides the obvious tax benefits, car donation can go a long way towards helping a good cause and make efficient use of a vehicle you no longer need.
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Car Donations in New Jersey
Charity Car Program Exceeds $91000 USD in 2009 Donations - Live-PR.com (press release)
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