Donation Of Old Automobiles Doesn't Only Help The Society
More and more people are seeing the benefits in donating their old cars
, vessels, and RVs rather than selling them, which really helps society.People who could use another deduction on their taxes this year will really want to consider donating as an alternative to selling. This can really lead to significantly lower annual taxes.
With so many non-profit organizations to choose from, you are sure to find one with a mission you can really stand behind. Many charities support humanitarian efforts both at home and abroad. Other charities support educational programs on TV, radio, and in the newspapers.
Most charities have an agent to arrange the donations of large items such as vehicles. They will arrange the logistical side of things, and if the car no longer runs, they'll send a tow truck to come get it.
Donating a car is far easier than selling a car, and unlike selling a car, you won't have to worry about its' current condition. Chances are, if the charity accepts vehicles, they'll accept them in any condition.
The vehicle must be worth more than the cost to tow it, of course. Otherwise the charity would actually lose money just removing it from your property! Don't forget that you can use this as a tax deduction, so you'll want to be sure to get an IRS form 4303.
You will need to have a clear title on the car, which confirms that no money is owed on the car, you are legally the owner of the car, and you have no outstanding obligations to the DMV.
It is very important for the non-profit organization to secure these documents during your donation. Without them, the car would be worthless as they would not be able to resell it.
If you can't find the title or other proof of ownership of the vehicle, you will be required to either find it or have a replacement issued before you can donate the car. But some charities will even help you with this!
by: Tim Allen.