You have a car that you want to get off your hands. Your knee-jerk reaction is probably to put it on a site like Craigslist or browse Carvana and see what you can get for it.
But wait!
Someone offhandedly suggests that you donate your car to charity. You hadn’t even thought of that until now: you could get the car off your hands and do a world of good by giving it to a charity. That’ s a great idea, right?
Well...not necessarily.
The Downsides To Donating Your Car
Unfortunately, everything with a bright side has a shadow that darkens the image we have of it. Donating cars to charity is no exception to this rule. Let’s dive into them piece by piece:
The Hassle!
Donating your car to charity, while heartwarming, is nothing short of a headache. The convoluted paperwork process alone will impede you reaping your tax benefits.
Combine that with finding the right type of charity, the fair market value for your car, figuring out exactly how the charity will make use of your vehicle, acquiring necessary tax forms, and reading through necessary IRS material, and you’re in for a mountain of confusing, tedious work.
The Deduction?
People donate cars to charity for the greater good all the time. However, for those with less altruistic motivations, the tax deduction is a draw towards the donation. Unfortunately, the deduction for a donated car is not always as large as what you would expect.
A few factors affect the deduction; How much the charity sells the car for being one of them. Some charities may sell cars at an auction for as little as $50. Unless the charity uses the car, instead of selling it, you most likely will not be able to deduct the full value of the vehicle.
How To Have Your Cake And Donate It Too
You still want to donate your vehicle to charity, but the cons are a bit of a turn-off. Fortunately, there’s a work-around to these obstacles: sell it!
Selling your car instead of donating it is one work-around to most of the pitfalls. Now, this option might sound counterintuitive to your goal of donating the vehicle, however it holds some weighty pros worth exploring.
The greatest advantage selling your car presents is that a buyer will give you money immediately. “A bird in hand is worth two in the bush” applies here; as far as getting rid of your car is concerned, having definite money now is worth much more than having potential money later. No “waiting on tax benefits” to reap your reward.
Selling your car will also provide you with money to give directly to your charity of choice. Instead of giving them the vehicle and having them make the best of it, you can make a bigger financial impact immediately after you have sold your car.
When Donating Isn’t Right For You
Ultimately, donating an old vehicle to charity is a commendable act. However, whether or not it is the best move for you and your vehicle is dependent on whether or not you find the hassle and potential lesser impact on the charity agreeable conditions.
Should you not agree with those terms and are looking for an easy means to offload a vehicle and impact your favorite charity, JunkCarMasters creates an avenue for you to accomplish all of that easily. Reach out to us and get a quote for your vehicle in 90 seconds.
Once you accept our offer, we can schedule a tow in 24-48 hours, whereupon you get your money at the moment of exchange. Afterwards, you are free to bless your favorite charity at your earliest convenience: minimal hassle and maximum impact.
What Does NPR Do With Donated Cars?
NPR will pick up donated cars for free and sell them at an auction with all profit going towards the public radio station.
Again, cars can go for as little as $50 at an auction, so to guarantee you can make a larger impact on your favorite public radio station, reach out to JunkCarMasters. We’ll make sure you get the market value for your vehicle, which you can donate directly to NPR!
Is Donating A Car To Charity Tax Deductible?
Yes, your donated car is tax deductible. However, how much you can deduct depends on a variety of factors including what the organization does with the vehicle and how much it’s worth. Additionally, the value of the vehicle may also affect what kind of paperwork you will have to file in order to claim the tax deduction.
An easier process may be to sell the vehicle and donate the cash directly to a charity of your choice, which will simplify the process of claiming a tax deduction. JunkCarMasters is happy to make a fair market offer on vehicles in any condition — including yours!
It’s a Quick and Easy Process
Vehicle Details
Provide us with your vehicle’s details and a picture if asked.
Offer
Request your guaranteed offer from us online.
Accept
Accept the offer if you’re happy with it.
Get Paid
In 24-48 hrs, you will get paid and have your car towed for free!