Tired of your good old car? Donate a car today to the best charity for car donation. There are organizations who are eagerly waiting to have a used car. If you want to avoid the hassle of selling a car, then donating car is the best option. You can enjoy the benefit in tax deduction and have mental piece as you know your car is in good hands.
There are kinds of best charity of car donation where you can donate motorcycles, RVs, boats etc. any kind of passenger cars.
To donate your car to charity and save taxes, you have to know about some steps that will make the process faster and more effective.
How to Donate Your Car to charity tax benefits:
It is unfortunate to say that, there are some scam organization that works with bad policy. To avoid this kind of scams, there are some tips to the best charity for car donation:
- All the charity has some ratings, but most of them comes in fake. You can check the charity rating in some independent watchdog like BBB wise giving alliance or charity navigator. Every watchdog has system of measuring charities by using similar criteria. Charities with 60 percent or 75 percent rating is known as the reputable car donation charities.
- Take the information about the charity and find the source about car donation. You contact the charity, check the financial reports and take the decision about the best place to donate a car.
- There are charities that accept car donations directly, by this you can donate your car and sell directly.
- Avoid using the towing service. Drive the car to charity. This little work ensures more funds and helps in need. Because most of the charities deduct the towing cost from the selling money. There are some charities that accept only running car.
- When you have decided to donate your car, you can transfer the vehicle’s title. Fill up the ownership assignment because you may get into trouble of parking tickets or car crush incident blame even after donating car.
- If your car has insurance coverage, then cancel it before donating your car. It is an easy process.
- Take out the license plate and give it to the DMV. Make sure to do this before donating car.
- Keep the car donation receipt. You may need this receipt when the IRS audit will happen. It is wise to arrange all the paperwork and keep it in a near place to use it when you need them.
- Make a request for privacy. Every day millions of donations have happening. So, to stay unnoticed request privacy.
- If your car has the value of more than $5,000, then you can apply for an independent appraisal for your car. After getting the appraisal, you have to give the charity the paperwork of appraisal to verify the value and the donation.
To donate your car, you don’t have to be rich. The car donation is all about to donate your old car for good purpose. I think this option is best then selling the car. Donate your car to charity to save a big tax deduction. Just you have to know the right tips to enjoy the car donation process.