The biggest motivation of most people have for making charity car donations is tax deductibles. If you donate an auto to a legitimate 501c3 nonprofit organization, you can claim it to help lower your federal income taxes.
Apart from turning your clunker into a tax deduction, auto donations for charity come with many intangibles. If you’re still on the fence about the idea, think about these advantages:
1. More Space
Imagine the amount of space you can free up if you rid your garage or yard of your old vehicle. To put things into perspective, the size of a third-generation Mustang is about 15 feet in length and six feet in width.
If you’ve never used to it for years, you’ve been robbing your home of floor area you could otherwise use to increase livability.
2. Less Hassle
Say your old vehicle still runs. You could try to sell it and pocket some money instead of letting it go for nothing. While this is practical, contemplating whether it’s worth the hassle is the question.
For sure, someone would be interested in it, especially if it’s still in good condition, but there’s no telling when you could find a buyer. But, if you simply donate it to charity, the nonprofit would take care of the logistics at no costs to you.
If you pick the right organization, you can qualify for a possible tax deduction to indirectly turn your old wheels into cash.
3. Great Feeling
Your garbage is someone else’s treasure. All charities are unique, but their usual beneficiaries are low-income families and other marginalized sectors. If you want to support a particular cause, using your clunker is a great way to do it.
Donating a vehicle for charity is a win-win situation for all. Reach out to your chosen organization to learn how you can make your donation count the most.