Vehicle Donations
Many charities accept used car donations , including the program, Teddy Bear Cops. This vehicle donation charity also helps children in crisis by giving them a teddy bear to hold onto and love when they are experiencing a difficult and often traumatic situation. Another worthwhile charity is the program, Cars for Veterans. Our veterans deserve our continuing thanks and support for the sacrifices they have made on behalf of our country. Many different charities accept used car donations as they are in need of all the funding help they can get. Rest assured that your contribution of a donated car or any donated contribution will indeed make a difference.
A vehicle that is resold for cash (that is, most of them) is deductible only on the sale price of the car, rather than its fair market value. If the charity gets only $800 for your $2,500 Ford, you can deduct only the $800. But if the charity uses your car in its daily operations, for things such as deliveries, you can deduct the full fair market value. Some charities offer vehicles at a discount to families who are rebuilding their finances; in those cases, the deduction can be taken at the higher amount.
If you have decided to donate vehicle to charity but haven’t decided upon a charity, there are literally thousands of places across the US that are registered with the IRS that accept vehicle donations, so finding one in your area shouldn’t be very difficult. If you belong to a church, that is always a great place to start. Check with them first to see if they accept automobile donations. If they don’t, they can usually make some great suggestions.
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