Have you ever thought about donating your car to charity? The benefits of charitable car donation are pretty obvious, but with so many charities, which cause do you contribute to? One of the major charitable causes that you can turn your old clunker over to to benefit others is cancer car donation. Some of the biggest organizations contribute the funds they receive from selling scrap car parts to over to help cure various forms, such as breast cancer and lung cancer.
Cars For A Cure Program
The American Cancer Society is a reputable charitable organization where you can trade in your old car as part of the Cars for a Cure Program. Cancer – in its various form – affects millions of Americans each year and there are practically very few families that haven’t been affecting by losing a loved one to this disease. Making a donation means that you’re doing your part in “paying it forward” to save a life.
Donating to Cars for a Cure is not only free, but your donation is also tax deductible. The American Cancer Society uses the proceeds from teach sale for funding for cancer research, education, advocacy and patient services programs. Not only can you donate your old vehicle, but this organization also accepts trucks, motorcycles, RVs, trailers, or even boats. In order to donate, you can head straight to the official American Cancer Society website, fill in your information, and arrangements are made from there to have your vehicle picked up from your home for free. Official instructions and documents are mailed to your home in order to appropriately claim your “gift” for your annual taxes. While some charities accept inoperable vehicles, there are some noted restrictions you need to be aware of before you donate. Your vehicle must have a transferable title, four inflatable tires, and keys that are available to turn over at the time of donation.
Be aware that the law places limits on how much you can claim for tax deduction purposes. Currently the limit you are able to claim is $500 on your taxes. If the gross proceeds from the sale of your vehicle is above $500, you are able to claim that amount. In some cases, the American Cancer Society keeps the vehicle rather than sells it. If this is the case, this organization is required by law to notify you in writing. In most cases, the vehicle is sold, and you will receive an official receipt in the mail listing the gross sale price. Keep this documentation in a safe place because you’ll need it come Tax Time.
Donating a car to charity is definitely a worthwhile cause. There are other companies that can take away your old vehicle for free, but it is definitely worth it to have the satisfaction of knowing that your donation will ultimately help others.