Donating Cars to Charity on the Increase
Car donation charity advertisements seem to be everywhere you look, on the television, radio, plastered over billboards and pop up on Internet sites. This is a sign of the times, charity donations of vehicles are becoming a more and more popular way of contributing to your favourite charity.
Charity donations of vehicles are nothing new they have been around for the last 15 years but in the last few years there has been a large increase in the number of donations programs and donations of cars themselves.
In the United States alone more than one third of the population has donated a car to charity. So why are these programs becoming so popular?
Donations on the Rise
One of the causes for the increase in donations is the high cost of advertising for those looking to sell their car privately. A lot of people are busy and have little time or money to spare advertising their cars online or in newspapers, taking calls from prospective buyers and arranging meeting times for people to view their used cars or vehicles. For elderly people there is also the issue of security.
Many elderly do not want to encourage strangers onto their properties and would prefer to have their junk car removed from the property from a trustworthy source.
With the environment becoming a major international issue people are becoming more and more aware of the affects their old junk cars are having on the environment. Through encouragement from automobile associations more people are trading in their old used vehicles for newer more eco-friendly models and deciding to donate junk car to charity. Getting rid of that unwanted used vehicle has also become a tough job.
Everyone knows that as soon as you drive that new or used car off the lot it instantly decreases in value so trying to obtain a fair market price for your unwanted car can be a mission at best.
Used car dealers will rarely offer you a good price, selling it yourself will mean putting in a whole lot of money to make sure it is in working order and all of the legal requirements are met. All of these activities will eat away at the profits of your car when you could simply have donated it to charity where it can be used or sold for a fair sales price.
Claiming Tax Deductions
One of the biggest causes in the boom in car donations to charities is the fact that it allows the donator to claim a tax deduction and receive some money back. Of course most people see donating a junk car to charity as the fastest and most convenient way of doing away with their old and unused vehicles, all you have to do is pick up the phone, fill in a form and a tow truck will be on its way within 24 hours to remove the car from your property.
But people are also beginning to see the financial benefits involved when they donate junk car to charity. If you make a car donation for tax you are entitled to claim the value at which the vehicle is sold back as a tax deduction.
This means if your car sells at auction for $1000, the proceeds will not only go towards your chosen charity, but you too will be able to claim up to the market value of your vehicle back when you lodge your next tax return with the Inland Revenue Service.
More and more people are seeing the benefits of reducing their tax while also having their old and unused vehicles removed. Simply keep the proof of sales receipt and fill in the appropriate forms that will be provided to you by your car donation charity. Why wouldn't you want to make a car donation for tax?
Popular Donation Programs
Some of the most popular vehicle donation programs in recent years have included AIDS, Kidney and health research donation programs where the larger well known charities have accepted car donations through a third party agency.
Other popular car donation charities have been community outreach programs that help educate young people, help those with drug and alcohol problems or disabilities.
Other charities will take your vehicle and give it directly to a family or person in the community who is in desperate need of transportation. Car charity donations have become an increasingly popular way of making a contribution as it is a win-win situation - the charity gets a donation and the donator disposes of their unneeded car while also helping a cause.
Charity donations of vehicles are nothing new they have been around for the last 15 years but in the last few years there has been a large increase in the number of donations programs and donations of cars themselves.
In the United States alone more than one third of the population has donated a car to charity. So why are these programs becoming so popular?
Donations on the Rise
One of the causes for the increase in donations is the high cost of advertising for those looking to sell their car privately. A lot of people are busy and have little time or money to spare advertising their cars online or in newspapers, taking calls from prospective buyers and arranging meeting times for people to view their used cars or vehicles. For elderly people there is also the issue of security.
Many elderly do not want to encourage strangers onto their properties and would prefer to have their junk car removed from the property from a trustworthy source.
With the environment becoming a major international issue people are becoming more and more aware of the affects their old junk cars are having on the environment. Through encouragement from automobile associations more people are trading in their old used vehicles for newer more eco-friendly models and deciding to donate junk car to charity. Getting rid of that unwanted used vehicle has also become a tough job.
Everyone knows that as soon as you drive that new or used car off the lot it instantly decreases in value so trying to obtain a fair market price for your unwanted car can be a mission at best.
Used car dealers will rarely offer you a good price, selling it yourself will mean putting in a whole lot of money to make sure it is in working order and all of the legal requirements are met. All of these activities will eat away at the profits of your car when you could simply have donated it to charity where it can be used or sold for a fair sales price.
Claiming Tax Deductions
One of the biggest causes in the boom in car donations to charities is the fact that it allows the donator to claim a tax deduction and receive some money back. Of course most people see donating a junk car to charity as the fastest and most convenient way of doing away with their old and unused vehicles, all you have to do is pick up the phone, fill in a form and a tow truck will be on its way within 24 hours to remove the car from your property.
But people are also beginning to see the financial benefits involved when they donate junk car to charity. If you make a car donation for tax you are entitled to claim the value at which the vehicle is sold back as a tax deduction.
This means if your car sells at auction for $1000, the proceeds will not only go towards your chosen charity, but you too will be able to claim up to the market value of your vehicle back when you lodge your next tax return with the Inland Revenue Service.
More and more people are seeing the benefits of reducing their tax while also having their old and unused vehicles removed. Simply keep the proof of sales receipt and fill in the appropriate forms that will be provided to you by your car donation charity. Why wouldn't you want to make a car donation for tax?
Popular Donation Programs
Some of the most popular vehicle donation programs in recent years have included AIDS, Kidney and health research donation programs where the larger well known charities have accepted car donations through a third party agency.
Other popular car donation charities have been community outreach programs that help educate young people, help those with drug and alcohol problems or disabilities.
Other charities will take your vehicle and give it directly to a family or person in the community who is in desperate need of transportation. Car charity donations have become an increasingly popular way of making a contribution as it is a win-win situation - the charity gets a donation and the donator disposes of their unneeded car while also helping a cause.