If the charity is able to sell your car for more than $500, you can claim the sale price as your tax deduction. This is especially true if there is significant work that needs to be done to the frame, body and drive-train components and parts are not readily available. Once you have made the choice not to fix your car, you then have to decide how to dispose of it. One thing to consider when making the choice about whether to fix your car is how often it breaks down. Besides getting a tax deduction and getting rid of a car that is giving you a headache, the other good thing about car donation is that you can help to support a cause you believe it. If your average monthly repair costs are equal to the cost of a better car, it is probably time to dump or donate your car. In most cases a professional shop will be able to locate all required parts and assemble and restore the car the way it was meant to be. If not, you need to know the value of your car. You can start by contacting restoration shops to see if they’re interested or know of anyone who is, and then proceed to traditional listings, Craigslist and even bay if you’re feeling lucky. All you need to do to claim your tax deduction is to itemize on your federal tax return.
If you’ve got the right car you may be able to tempt a collector or enthusiast into a trade. The price you will get from a junk garden depends on your location and whether you can drive the car to them. The safety of your car should be another consideration. If you’ve got a great old car sleeping away in pieces somewhere on your property and you know you’re never really going to do anything with it, you may want to consider giving it to an auto museum. If you are handy with cars, you might decide to fix the car yourself.
Traditional newspaper ads often get fast, local results, and visiting a pro restoration shop might turn up some leads as well. You can start by contacting restoration shops to see if they’re interested or know of anyone who is, and then proceed to traditional listings, Craigslist and even bay if you’re feeling lucky. One thing to consider when making the choice about whether to fix your car is how often it breaks down. If your family is riding in a car that is not safe, you need to get rid of it. The average price a junk garden will give you for a car you can drive it in is $200. If your average monthly repair costs are equal to the cost of a better car, it is probably time to dump or donate your car. Donating your basket case classic car project to charity has a number Check Out Donate Cars to Charity – yourviralblog of potential tax benefits as well as the fact that – depending on the situation – your old car may net a significant cash infusion for charities that often struggle to obtain funds to support their causes.
Heres how it works: When you donate your car for kids, you help them in so many ways. You car donation goes to help underprivileged kids that need it most. Donate your car today by clicking the link below and filling out the simple form. https://www.carstohelpkids.org/secure/donate-a-car.php The vehicle donation process is super simple, we will pick up your car whenever you want for free and donating your car is 100% tax deductible. We accept cars in all 50 states whether the car is running or not. Help impact thousands of kids who need it most today with Cars To Help Kids charity: http://www.carstohelpkids.org/ We are making sure that your donation will make the biggest impact in our future generation, our kids..