To get rid of your unwanted car, you must not necessarily sell it. You can donate it to kids and or charity. Many charities accept used vehicles. For tax purposes, this may be any vehicle used primarily on roads, highways, and public streets. There are several charities and organizations with different ways and methods so you should call one up and ask, then schedule a time for a pickup. You may need to have your car appraised before you can give it out, depending on the condition.
How to donate your car to kids and charity
The first step is to identify a charity you’d like to give your vehicle to. You can search the web and check the charity’s website to see if it accepts vehicles. There may also be a phone number to call or a specific web page dedicated to explaining the donation process.
You might also use the Donation Wizard Website and then begin the donation process on this website.
Verify the Charity Qualification For Tax
Check whether the charity is a qualifying nonprofit. This is important if you want your contribution to be tax-deductible. Generally, most charities and religious organizations qualify. You can double-check by using the EO Select Check tool. Remember that churches won’t be listed in the IRS directory though they still qualify. You can also call toll-free (877) 829-5500 to check nonprofit status.
You need to provide information about the vehicle. The charity will want to gather information from you about the vehicle. The necessary information required by the organization is: vehicle make, model, body type, vehicle identification number (VIN), current mileage, condition, and date last driven.
Complete Required Paperwork.
The paperwork you need will depend on your state. You should contact your state’s Department of Motor Vehicles and check. In most states, you will need a certificate of title to transfer the vehicle. You will have to fill out the certificate of title in the name of the agency that picks up vehicles for the charity. You also have to print and sign your name in the seller field on the certificate of title. The charity will probably also ask that you submit the title before they pick up the vehicle.
Appraise the Vehicle
You may need to have the vehicle appraised if you intend to claim more than $5,000 as a tax deduction. You should estimate the value of the car and talk to the charity ahead of time to find out what they intend to do with the car. You don’t need an appraisal if the charity intends to sell the car. In that situation, the sale price is proof of the car’s value.
However, the charity might use the vehicle, make a substantial repair, or give it to a needy person. In those situations, you should have an appraisal done by a certified appraiser.
Schedule a pickup.
If your vehicle is accepted, you will schedule a pickup. Make sure that you are home so that you can handle any issues that might arise. Remember that the charity has up to three years to sell your vehicle. After the vehicle has been sold, you should receive an acknowledgment letter. Hold onto this letter. It contains information about the sale and can be used for a tax deduction.
Surrender your license plates as each state has its own process for transferring ownership of a vehicle. Generally, you can keep your plates and use them with your new car. However, if you want to surrender them, then you can drop them off at your state’s Department of Motor Vehicles.