Car Repair Or Donate?

May 26
07:46

2011

Aloysius Aucoin

Aloysius Aucoin

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Sometimes it is just time to let go. If you have an old vehicle that is a serious car repair project, look into donating it to a local non-profit or charity.

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Many organizations will accept vehicle donations as an easy means of fundraising. Of course,Car Repair Or Donate? Articles there are a few prerequisites that your automobile must meet, but finding out more about a vehicle donation program may just save you from having to spend those extra dollars on car repair and get that junker out of your driveway.

First of all, you will need to check to see if your vehicle really does qualify for the program. Talk to whichever organization that you are interested in donating to. Each organization has different criteria. Make sure you understand all the criteria involved so you can maximize your donation.

If your vehicle is in the shop getting car repair at the time that you decide to donate it, don't worry. Some organizations will pick your vehicle up no matter where it is. So, if your old faithful dies on the way to work and you decide you don't want to spend the extra money on the tow truck, donate it. The charity will usually be paying the expense to have the auto picked up.

Some experts suggest that you spend the money on the tow to the organizations specified vehicle processor. This allows for an organization to receive the maximum amount from your donation. Some organizations will, in a sense, borrow against the value to pay for the towing. So if your vehicle is worth five hundred dollars, they will receive three hundred after towing.

This brings up another important point. Do all your homework with your accountant and the receiving organization prior to donating. You may be surprised to learn that there is a maximum donation amount on vehicles that your organization can receive. Or, they could be receiving a flat rate from their processor. Check this information beforehand.

Knowing exactly how much your auto, truck or boat is worth to the charity is vital when filling out your taxes the following spring. You will want to be sure that your donation is tax deductible to the full worth of the vehicle. So, get receipts from the charity showing how much they were able to make off your vehicle.

You may find, after doing all this homework on donating your vehicle, that keeping your clunker another year and paying for car repair is the best option. Since organizations will take a vehicle in almost any condition, then driving it a little longer may allow for you to get a little more use out of the vehicle. Just remember, though, the value will likely go down the longer you are on the road.

So, if you are looking at your old vehicle and thinking you just don't want to pay for car repair one more year, consider donating it to your favorite charity. You'll enjoy knowing that your old faithful will continue to do some good.

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