http://www.helpyourmoney.com/246/donate-a-car/ Find and Share Tips on How to Make, Keep and Grow Your Money Thu, 20 Nov 2008 15:46:19 +0000 http://wordpress.org/?v=2.3.3 http://www.helpyourmoney.com/246/donate-a-car/#comment-4073 Tim Schroeder Mon, 11 Dec 2006 16:30:23 +0000 http://www.helpyourmoney.com/246/donate-a-car/#comment-4073 Hi Shawnk, When I say that "the cost to fix it is probably more than it's worth," I'm talking about for the <strong>donator</strong>. For example, the value of an old clunker car with a bad engine problems might be $500 despite it not running (in parts). But to fix the engine it might cost $800. In this case, why not donate it and take the tax deduction? The <strong>charity</strong> is likely to just <strong>sell the car for parts</strong> so they will still make money." Hi Shawnk,
When I say that “the cost to fix it is probably more than it’s worth,” I’m talking about for the donator. For example, the value of an old clunker car with a bad engine problems might be $500 despite it not running (in parts). But to fix the engine it might cost $800. In this case, why not donate it and take the tax deduction? The charity is likely to just sell the car for parts so they will still make money.”

]]> http://www.helpyourmoney.com/246/donate-a-car/#comment-4067 shawnk Mon, 11 Dec 2006 07:42:46 +0000 http://www.helpyourmoney.com/246/donate-a-car/#comment-4067 I have to admit that I'm a little confused on this - I can understand donating an older but still decent car, and the benefit that would bestow on both parties. I don't however, see when "The cost to fix it is probably more than it’s worth" that it could possibly benefit the non-profit to take the car - I understand the tax benefits for the donor, but I just don't see how giving someone unusable junk will do them any good and in fact seems it will take their time/effort and ultimately resources away from their main purpose as an organization. Am I missing something? I have to admit that I’m a little confused on this - I can understand donating an older but still decent car, and the benefit that would bestow on both parties. I don’t however, see when “The cost to fix it is probably more than it’s worth” that it could possibly benefit the non-profit to take the car - I understand the tax benefits for the donor, but I just don’t see how giving someone unusable junk will do them any good and in fact seems it will take their time/effort and ultimately resources away from their main purpose as an organization. Am I missing something?

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