Back in 2004, the US changed the rules to donate your car. No longer could you take thousands of dollars worth of tax deductions. The American Jobs Creation Action of 2004, limited these deductions. And this had the effect of suddenly making donating a car less attractive.
Cars now go for rock bottom prices at things like charity sales and auctions. So it’s not surprising that donating a car has become a lot less popular.
But there are still reasons to donate. Here are just a few.
Get Rid Of A Car That Lacks Title
Most charities will still take a car, even if it lacks a proper title. This means that you can quickly and easily get it off your front drive. But it also means that you get to avoid all the costs involved in establishing a proper title.
Even if the charity can’t use the car, they can often get something if they decide to scrap the car for parts. This, of course, reduces the value of your education, but at least you are freed from the liability.
Help The Work Of A Charity You Love
Right now, veterans in the US are being let down by the government. There are something like 22 million veterans. And many are unemployed and receiving inadequate healthcare.
Car donation has become an important tool for improving the lives of veterans up and down the country. Millions of veterans live in poverty, without a car. And a donation can make all the difference to their quality of life. Donating a car to a charity that you believe in gives you a sense of purpose and pride.
Free Pick Up
Having your old car picked up and taken to the forecourt for resale can be expensive. But charities will often cover the cost of pickup to get hold of your old car. Of course, the charity will deduct this cost from the car’s value and therefore, reduce your tax deduction.
And that’s why, if the car is not worth an awful lot, you might want to drive the car to the charity yourself.
Avoid The Hassle Of Selling
Selling your car can be a major hassle. You often have to pay for expensive ads in the paper and spend time with customers wanting to buy. Then there are all phone calls and emails from people potentially interested in your car. It all adds up to be a big hassle that you could probably do without.
Going through a charity allows you to avoid all this trouble. You simply arrange your terms with the charity beforehand and then let them take care of the rest.
Allow A Charity To Use Your Car
If your vehicle is still in good working condition, you can rest in the knowledge that your car is still being put to good use. Many charities use cars to deliver meals to the elderly or taking people to get medical attention.
You could donate your car to a vocational training school for mechanics to practice on. Or you could give it to a care home for running errands for the residents.
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