Add Contentment to Your Life: Donate Your Car

When you think of the best way of charity, numerous options may come to your notice. But if you want a hassle-free and easy way of making contribution towards society, then donate your car. Car donation has become extremely popular in the recent years wherein people can donate their old or junk vehicle to non-profit organizations and help the poor, needy and old people.

When you donate your car you can also get tax deductions that can help you save your hard earned money. Isn’t vehicle donation the best way through which you can help the poor and needy ones without having to extract money from your savings? Your old or junk car is surely of little and no use to you and are mere burden makers in your garage. Your garage may not be big enough to accommodate your new and old vehicles. Additionally, you want to dispose a headache as soon as possible. So, instead of wasting your time in finding the right buyer for your old vehicle, you can plan to donate your car.

Finding a buyer is definitely not a piece of cake! The buyer will not take you for face value and instead ask varied questions related to your vehicle like the date of purchase, the number of repairs done, condition of the car, equipment fitted and so on. Then the buyer will also demand to see your car before signing off the purchase deal. So, to avoid all such hassles and add contentment to your life you can resort to vehicle donation!

How to Deal With the Paper Work for Car Donation

Just making out a decision to donate out your car, does not solve out your purpose. You have to be careful of the paper work involved in car donations because this is the trickiest part where a citizen actually gets fooled. The following points will help you out in carrying out the procedure in the right way.

•    Once you have handed over the car to the charity organization make sure that the paper work involved in transferring the ownership is done properly. Never ever forget to leave the field of ‘ownership’ vacant in the documentation. In this way, you may land yourself into trouble. If you skip out this process and if some criminal activity happens with the car, then still you would be held responsible for the act no matter who was driving the car at the time of crime because the car is in your name according to the documentation work.

•    The other important paper work you should take care of while donate your car is to get the receipt. The actual value of the car which the charity organization gets after selling it, should be received by the donor in the form of the receipt. This is a necessity if the value of your car was more than $500. IRS has a great interest in these kind of document.

•    In case your car value is less than $500 or the charity organization decides to make use of the car for its internal use then in such a case the donator does not need a receipt from the charity organization. In such a case only the actual value of the car can be reported to the IRS department without actually submitting the receipts.

•     In case the value of car donation is more than $5000 then in such case an appraisal is needed from an outside agency who would actually give an undertaking that the donator party is trust worthy and has clean background. This document has to be attached with the IRS 8284 form while filing your income tax. If not done then legal actions can be taken.

•    Even after donation if possible keep a track of your vehicle for a couple of weeks. This act will make sure that the charity organization has benefited to the maximum from it and no misuse has been done in between. This would justify your purpose of donation.