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Donating to a Car Charity

Before you trade in your old car for a new one, you might want to consider donating your used vehicle to a car charity. You'll feel good about donating to a good cause, you'll get some tax relief and you won't have to hassle with the car dealer about a price. The process of donating a car is fairly straightforward. If you donate to a car charity, you'll probably find the process easier than trading the car in.

Don't let the name fool you. Car charities also accept trucks, vans, RVs, boats, trailers, planes and motorcycles. It seems there's a line at most car charities for good quality used cars. Car charities say they can always use more donated cars. Many charities fund their programs by selling the donated cars.

The good feeling you get from donating a car isn't the only valid reason to donate. You can also get a sizable tax deduction. If your donation is accepted, make sure you get a receipt of your donation. You cannot donate a car with a value of up to $500 without a receipt.

Again, you have to be able to itemize your tax deductions in order to take a deduction for your car. For many people, the tax deduction is just a bonus for something that they were going to do anyway.

Figuring out how much you can deduct is easy. If the car is $500 or less, you can deduct the whole thing, if you qualify. However, if the charity chooses to keep the car for deliveries, drop-offs, or other essential duties, then you can deduct the whole value of the car. In this case, you can refer to the Kelly Blue Book for the fair market value of your car.

One last thing to remember - You must have the title. There are some car charities that will accept a donation without a title, but most will not. At the time of the donation, you'll give the charity the title, the keys, and all of the paperwork.

See it's simple. Giving your car to charity will save you time, headaches, maybe even give you a tax deduction. If you've been on the fence about donating your car, get off the fence and give a deserving charity a call.

Article Source: http://www.articlemap.com

Chris Roberts writes for Car Buying Guide Online. Don't miss his articles on Car Auctions and Car Insurance.

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