These days, tech savvy people get bored using their car when a new model arrives. So what to do with the old car? For anyone who is charitable enough you can donate one to a charity or even a non-profit organization that can make good use of the old car.
Actually car donation is a popular choice at present. Some of the important factors that is making thought of donating your car so popular include -
- Donating car is fairly hassle-free
- Can help you dispose your vehicle quickly than selling it would have been
- You’re even qualified for tax-deduction for those who donate to a authorized firm
- It gives gratification that you car has been put it to virtuous use
- All these benefits associated with donating a vehicle make it a good choice as opposed to selling it or else sending it to some junkyard.
Essential things to remember when donating your car:
Tax deduction is the the second best factor (1st will be charity) the reason why you should donate a car. But getting discount on the payable tax amount is no cakewalk.
First, you must save invoices of donating your vehicle. As a result ask for one from the charity management.
Second, file the donated car’s value and moreover save legitimate records of it as evidence. Here, it is best to include the price of repairs and so new parts which you might have added to the car.
Third and most crucial, be aware of scams; you might be penalized, instead of rewarded, in case the car you donated ends up being subject to fraud by the firm. And here comes the requirement to select the right charity for donating your car.
I repeat, car donation should only be done at reputed plus government-registered charities if you’d like to avail tax-reduction.
In any case, in case you are interested in where the automobile you donated is certainly going, ask with the administration of the non-profit organization, or read through their web sites for related information on cars for donation. How the receiving firm makes use of the car is based on the specific firm, but some general uses are:
- Keeping it for offering transport services to the organization
- Selling it to gain revenue that runs the NGO
- Donating it to those people looking for an automobile which can involve differently-abled individuals who don’t have the resources to purchase it on their own
Keeping in mind the above-mentioned points can make it a pleasant experience to donate your vehicle. And so if you are considering getting rid of your old car off, go for car donation plus let it be utilized for a noble cause.