Planning To Sell The Car? Why Not Donate It?

February 14, 2015

Planning To Sell The Car? Why Not Donate It?

Are you planning of selling your old car, vessel or the RV? If you have a mind for doing something for the society, why not donate it instead? It will certainly facilitate somebody who is basically in need. Moreover, the move will get you some cash back during the submission of your tax papers.

There are thousands of charities available in the country; some of them support local non-profit radio, TV and newspapers, some support humanitarian causes. The charities or their agents accept most of the vehicles, RVs and vessels. They arrange for a towing company to get in touch with you within three to four days after you promise to donate your vehicle.

Donating your car is an extremely easy procedure. The charities that accept car donation actually take any kinds of vehicle, including broken cars. A very little emphasize is given on the state of the vehicle. If the vehicle is worth more than the price of towing, they will take it. You have to fill out the IRS form 4303, if you want a tax deduction from the deal.

A clear title of the car, which you are donating, is needed. A clear title will confirm that all monetary requirements are already met, all obligations of the Motor Vehicle Administration are accomplished and you truly are the cars owner.

Without a title and a lien release document, the car is basically valueless to the charity as they will not be able to sell it to any third party.

If you have lost your title or other paperwork that proves ownership of the vehicle, you have to get it back before donating it. Good thing about it is, some charities take care of the process and prepare all the necessary documents.