 Gunga DinPremium
join:2005-12-15
Bellmore, NY
kudos:5
4 edits | reply to RobNyc
Re: [Info] Where can I donate a car? I donated a 1993 Grand Am to charity cars a few years ago.
As seen on NBC,CBS..bla bla bla.
Below are quotes from the site »www.800charitycars.org/?gclid=CK···odyRCvLg
"The first and only national charity of its kind that
provides donated vehicles free of charge to struggling
families willing to work and become self-sufficient,
tax-paying members of the community"
"Under the old rules, when you donated a vehicle to a charity, you could value the donation at the “fair market value.” This year, if you donate a vehicle to charity, you are limited to the sales price if the vehicle is sold, unless the charity uses the vehicle in its mission. If Charity Cars provides your vehicle to a struggling family, then you can still deduct the full “fair market value.” According to the IRS, the donor, not the recipient charity, must determine the “Fair market value” which the IRS describes as the price that a willing buyer and a willing seller would agree to if neither were pressured to do so. Assistance with vehicle values can be found at www.kbb.com Kelly Blue Books website. (Use private party value)"
They sent a Local auction Co. over to pick up my car. The car went to auction and sold for $35. I thought I was doing the right thing but was very disappointed in the way the whole thing worked. When I was doing my tax's I added $500 as a test to see if it would do anything for me. It didn't mean anything as far as a tax wright off. It isn't worth it with a car that old. I would sell it, give it away or junk it before I do that again!
EDIT: The car was in good condition had 65,000 miles on it and only needed tires and brakes. So maybe they took the lousy $35 and someone who picked up the car at auction sold it and made a few dollars! I was not looking for a tax break and the idea of someone needy getting the car sounded appealing to me. I was very disappointed in the end.
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