Donating Used Cars to Charity

   

Do you have an older vehicle that no longer suits your needs? Many people decide that donating used cars to charity is a great way to help out those that are in need, as well as to get a tax deduction. If you are unsure of the rules regarding tax deductions for a car donation, you can find out more here IRS Rules on Car Donation
   If you will be donating used cars to charity, you will also want to determine Fair Market Value. Once your know the value of your car donation, you can also determine if you wish to simply call a charity and have them make the arrangements to donate your car or if you prefer to handle it yourself.
   You could instead have a company handle your car donation, and after the car sells, they could give you the money. In turn, if donating used cars to charity, you would give the amount of money that you are comfortable donating directly to the charity. See how to Donate Your Car for Money
   Lastly, you could sell your car privately, then simply make a donation to the charity of your choice.
   No matter what you decide to do, donating used cars to charity will help support people or animals in need in your community, and give you a good feeling inside!

"Besides giving your car directly to a charity, there is another way your vehicle can help a charity and also maximize your tax benefits: You can sell the vehicle yourself and donate the proceeds. If the qualified organization is going to sell the vehicle in order to receive cash, then it would make sense for an individual to sell the vehicle to a private party to maximize the amount of cash proceeds..........."

Does it Make Financial Sense from Edmunds.com

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