Donate A Car | Questions And Answers

Introduction...

It lurks in the shadows, clunking every where it goes. It sleeps in your driveway and everyone in the community is talking about it! It's an eyesore that everyone is just waiting for you to get rid of! It's your junk automobile! You know you can't sell it, who would want it? Well, there are thousands of charities out there that would love to have your vehicle! As you are probably seeking to get rid of your junk vehicle, here are a few frequently asked questions when it comes to car donations!

Question: Do I need to drive my car to a donation facility?

Answer: No! As a matter of fact, just about any company that accepts automobile donations will come out to where you want them to and pick your automobile up free of charge! All you have to do is make the call to your favorite charity or automobile donations company and they should come right out to pick it up!

Question: Does the car need to be in good condition to be donated?

Answer: No! When it comes down to it, over 50% of all car donations annually will be junk cars. However, you would be amazed at the amount of money that can be generated from a junk vehicle. Junk cars that are donated to charity are usually sold to junk yards and scrap metal factories for a premium! The funds generated prove to be an astonishing help to many charities!

Question: Are there any tax benefits to donating a vehicle?

Answer: Absolutely! Any donation has tax benefits, this includes car donations. As a matter of fact, at the time I wrote this article, the rules were as follows:

If vehicle is sold for less than $500, you can claim the fair market value of your vehicle donation up to $500 or the amount it is sold for if less than fair market value.

If the vehicle sells for more than $500, you can claim the exact amount as an auto donation tax deduction for which the vehicle is sold.

Question: Where does the money generated from my car get donated?

Answer: The great part about making the decision to donate your car is that, you decide who to donate it to. This means that the funds generated by your car go to the charity or church of your choice!

The exact amount that your vehicle sold for will be indicated on the notification emailed to you, which also serves as your charitable tax deduction verification. When it comes down to it, you should remember that not only will your donation give you a great tax benefit, it also provides much needed funding to the charity of your choice!