Why Consider Car Donation?
Jean-Luc 'Johnny' LaFrance
Defined Tag: Car Donation.
Toyata, Honda, Chevrolet, BMW, Ford, Volvo, Dodge, or Chrysler, whether it be a sedan, an SUV, a mini-truck or a pickup, you will have to abandon your car at some point to update to the newest model. Cars, much like anything else that can be purchased in this day and age, can be rendered obsolete by the newest incarnations in their respective line. Shifting to a newer model would be more practical and cost-effective, as such would be covered by manufacturer warranties and will not be prone to the breakdowns usually associated with the wear and tear of older vehicles. The repair of such breakdowns can amount to $3,000 per year, at the average, and this statistic would make it immediately apparent that purchasing a new car would be the better option.
The question that remains, however, is what should be done with your older car? You could opt to sell it, of course, but the secondary market for vehicles is always dependent on the condition of your car as well as the demand for the same. This demand is in turn dependent on the brand and make of your old car, and some brands and makes are simply more desirable than others.
One alternative you could opt to pursue is car donation. Before you begin thinking that car donation is all about charity, let me invite you to read on so that you'll realize how beneficial this option can be, despite the seeming benevolence attached to its nature.
Donating your old car will entitle you to some form of tax deductions. Given the demands of everyday life during these times, any form of tax deduction would go a long, long way in easing the financial burdens we have to endure. How big are these tax deductions? Here are the rules:
* If you donate your old vehicle to a charity institution, and they in turn use it for some specified and allowable "charity purposes," then you'll be entitled to a tax deduction equivalent to the current market value of your old car.
* If you give your old vehicle to a charity institution, and they in turn sell it to the secondary market, then you'll be entitled to a tax deduction equivalent to the price that your old car was sold for.
Consider these facts: car donation will not only help some foundation in dire need of aid. Car donation will also lessen the amount of taxes you have to pay. It is a great option, especially when compared to keeping an old car that you will no longer use. So instead of having it collect some dust, go to your favorite charity institution today, and arrange for the donation of your old car.
Johnny LaFrance is a respected and famous teacher,<span id="HTMLModeHTML_Resource"></span> author, technical adviser, and computer expert as well as the owner of <a href="http://www.13limited.com/">13 Limited </a>- a unique conglomerate of diversified companies representing international interests.<br>Johnny established the <a href="http://www.johnsautomotive.com/">John's Automotive</a> website to fill a need for information for the general public. The goal of the site is to be an invaluable source of information regarding every aspect of car donation, tax advantages, and all vehicle donation.