If you have a car that you are thinking of getting rid of, there are a few options. The one most people think of first is to sell the car, but depending on your tax bracket, you can often get an even better benefit from donating your car to a nonprofit organization.
Don't expect every charity to operate the same. They all have their own way of doing things. This is why it is very important to ask about their policies. We have had a good experience with Blok Charity Auto Clearance in the past and this article is based upon how they operate. They have operated in Los Angeles, CA for more than a decade and have sold tens of thousands of cars within that time.
Blok Charity Auto Clearance only accepts cars that are mechanically up to par. They sell them to the public either through auctions or on their lot. If your car is not in driving condition, you can still donate the vehicle through many other charities. Do a search online and find a charity that will work with you. In most cases charities will take any vehicle as long as the value exceeds towing expenses.
When you donate a car, it's not only for the tax deductions. You can usually pick where you would like the proceeds of the sale to go. From the Red Cross to the Kidney Foundation to helping the environment, the money from your car can go to a cause you believe in.
Your tax benefit is usually equal to the amount of money the car was sold for. Sometimes you can claim fair market value for your car if the charity you are working with directly gives your car to someone in need as a part of a charitable contribution. Within 30 days of your car being sold, the charity should send you the necessary paperwork for your taxes.
Before the charity will send someone out to pick up your car, they will ask you many questions. Be sure to know the make, model and year of the car. They will also ask you about its condition, how much mileage it has, if it has any major mechanical issues and they will want to know if it can be driven. Good charities, like Blok Auto Charity Clearance, have a mechanic inspect the vehicles before they are accepted. This is to ensure the buyers will be happy with their purchase. If the car is not drivable or has major problems, it is often sold for parts or to a scrap yard.
If you would like to rid yourself of that old clunker that is taking up too much room in your garage, donation can be a great option for both the recipient and your taxes. There are a variety of charities throughout the nation that accept donated cars. Do your homework and find one that works for your situation. We have been impressed with Blok Charity Auto Clearance and their system of selling and inspecting vehicles. They also provide a great service to those who need an inexpensive car.
Don't expect every charity to operate the same. They all have their own way of doing things. This is why it is very important to ask about their policies. We have had a good experience with Blok Charity Auto Clearance in the past and this article is based upon how they operate. They have operated in Los Angeles, CA for more than a decade and have sold tens of thousands of cars within that time.
Blok Charity Auto Clearance only accepts cars that are mechanically up to par. They sell them to the public either through auctions or on their lot. If your car is not in driving condition, you can still donate the vehicle through many other charities. Do a search online and find a charity that will work with you. In most cases charities will take any vehicle as long as the value exceeds towing expenses.
When you donate a car, it's not only for the tax deductions. You can usually pick where you would like the proceeds of the sale to go. From the Red Cross to the Kidney Foundation to helping the environment, the money from your car can go to a cause you believe in.
Your tax benefit is usually equal to the amount of money the car was sold for. Sometimes you can claim fair market value for your car if the charity you are working with directly gives your car to someone in need as a part of a charitable contribution. Within 30 days of your car being sold, the charity should send you the necessary paperwork for your taxes.
Before the charity will send someone out to pick up your car, they will ask you many questions. Be sure to know the make, model and year of the car. They will also ask you about its condition, how much mileage it has, if it has any major mechanical issues and they will want to know if it can be driven. Good charities, like Blok Auto Charity Clearance, have a mechanic inspect the vehicles before they are accepted. This is to ensure the buyers will be happy with their purchase. If the car is not drivable or has major problems, it is often sold for parts or to a scrap yard.
If you would like to rid yourself of that old clunker that is taking up too much room in your garage, donation can be a great option for both the recipient and your taxes. There are a variety of charities throughout the nation that accept donated cars. Do your homework and find one that works for your situation. We have been impressed with Blok Charity Auto Clearance and their system of selling and inspecting vehicles. They also provide a great service to those who need an inexpensive car.
About the Author:
Looking to find the best deal on used cars, then visit www.blokauto.com to find the best advice on car donations.
No comments:
Post a Comment