If you have an old car sitting around or just upgraded to a new model and are unsure what you want to do with the old one, then why not donate it to a worthy cause? You may at first think it will be a huge hassle to donate it, but donating your car and claiming it on your taxes is actually very simple. Follow these three easy steps, and you can feel good about helping an organization in need and also be rewarded for your good deed when it is time to file your yearly taxes.
1. Determine Your Car's Value
You must first determine what your car is worth, so you can obtain an appraisal if needed. An easy way to find out what your vehicle is worth is to visit KBB.com, also known as the Kelley Blue Book website, and follow the easy instructions …show more content…
Find an Organization That Needs Your Support
There are many organizations today that accept vehicle donations, and your choice shouldn't be made by which has the largest advertisement in your local paper. Charities with large advertising budgets often end up using more of the proceeds from the sale of your car on advertising than they use to help others.
The American Institute of Philanthropy, also known as Charity Watch, advises the public to donate their vehicles to organizations where they will be put to good use, like trade schools that need vehicles for their aspiring mechanics to work on. What could be better than helping the unemployed and underemployed learn an important skill that can help them succeed in today's tough job world?
3. Donate Your Car and Obtain Necessary Documentation
Once you have chosen the organization you would like to receive your vehicle donation, you can arrange to drop it off or have it picked up. If your car is not running, most organizations will foot the bill to have it towed in. You should always request a document from the organization detailing the date of your donation, the value of the vehicle, a description of the vehicle, and the name and address of the organization receiving the donations. If your vehicle value is over $250, then you also need to obtain a document called a contemporaneous written
1. Determine Your Car's Value
You must first determine what your car is worth, so you can obtain an appraisal if needed. An easy way to find out what your vehicle is worth is to visit KBB.com, also known as the Kelley Blue Book website, and follow the easy instructions …show more content…
Find an Organization That Needs Your Support
There are many organizations today that accept vehicle donations, and your choice shouldn't be made by which has the largest advertisement in your local paper. Charities with large advertising budgets often end up using more of the proceeds from the sale of your car on advertising than they use to help others.
The American Institute of Philanthropy, also known as Charity Watch, advises the public to donate their vehicles to organizations where they will be put to good use, like trade schools that need vehicles for their aspiring mechanics to work on. What could be better than helping the unemployed and underemployed learn an important skill that can help them succeed in today's tough job world?
3. Donate Your Car and Obtain Necessary Documentation
Once you have chosen the organization you would like to receive your vehicle donation, you can arrange to drop it off or have it picked up. If your car is not running, most organizations will foot the bill to have it towed in. You should always request a document from the organization detailing the date of your donation, the value of the vehicle, a description of the vehicle, and the name and address of the organization receiving the donations. If your vehicle value is over $250, then you also need to obtain a document called a contemporaneous written