Donating used cars can be a tricky thing to deal with in that one often does not know the best options for getting rid of said car.
Fortunately, it doesn’t have to be a complicated process, and different options exist for different aims and purposes. This article will outline some of the different options for donating used cars.
1-800-Charity Cars claims that they are the United States’ largest car donation charity. A breakdown of how cars donated their organization may be somewhat surprising to some: 33%, or a third, of all cars are immediately salvaged for parts. Ultimately, less than five percent of cars are deemed to be in good, operable condition and are given to disadvantaged individuals for the purposes of transportation.
The remainder of the donated cars are auctioned off to the highest bidder with proceeds going to a charity chosen by the donor. The lesson to be taken away is that a majority of the cars donated don’t go directly to those in need of the vehicles.
Kars 4 Kids
Kars 4 Kids is an organization you’ve likely heard about via their ubiquitous ads on the radio. (They usually feature a child annoyingly singing “1-800 Kars 4 Kids. K-A-R-S 4 Kids.”)
Kars 4 Kids accepts any car or motorcycle, most boats and recreational vehicles, and just about any van, in any type of condition. This includes vehicles in running or non-operable condition.
According to Kars 4 Kids’ website, the organization has been running for nearly two decades, and their professional towers operate throughout the United States. It takes two minutes to fill out a form for donating a car and the car pickup can be arranged within 24 hours, after which one receives a 100% tax deductible receipt and a vacation voucher.
Kars 4 Kids boasts that they have had over 400,000 satisfied donors over the years. They are able to effectively serve over 5,000 children annually.
Selling the Car Yourself
Although large organizations such as 1-800-Charity Cars and Kars 4 Kids exist, many choose to sell their own vehicle, later donating the proceeds to charity. This approach can help maximize your tax benefits, while also helping a charity.
Think of it this way: all charitable organizations have at the very least overhead and administrative expenses, so by cutting out these expenses, you are effectively getting more bang for your buck.
There are numerous options for donating your car– or its proceeds– to charity: this article only covers a few of such options. Doing your research and due diligence as to what option is best for your specific situation is imperative.