AUTO Donation HELPS Low-Income FAMILIES
Working vehicles are one of life’s resources most easily taken for granted. Cars help with so many everyday tasks, such as errands, child care, and leisure activities. We lose track of their contributions and fail to truly value them, yet an increasing number of families remain without vehicles or reliable means of transportation. An auto donation through a company such as Vehicles for Change makes a huge difference in the lives of these families and provides opportunities that otherwise would not exist.
Auto Donation and Tax Deductions
The tax break will varybased on several factors. These include the fair market value of the donated vehicle, the type of vehicle, and any repairs needed. Vehicles for Change will undertake major repairs, but vehicles with severe damage will not be awarded to needy families. Instead, they will be sold through other venues once the repairs are completed.
Vehicles for Change guarantees the donor will receive at least half fair market value for a vehicle donated in good condition or only in need of minor repairs. If a vehicle can be repaired for less than $1000, and guarantee two years or 24,000 miles of service, the donor receives a tax deduction of full fair market value. For luxury vehicles, donors can deduct the selling price of the vehicle. The same is true for vehicles in need of extensive repair. Please visit Vehicles for Change online to learn more about auto donation tax deductions.
Why Auto Donation Through VFC?
Auto donation guarantees the donor more than a tax break. Vehicles for Change is one of the most unique and well-respected organizations of its kind. Unlike a bank or car dealership, VFC does not attach debt or hidden costs. Rather, the staff at VFC helps recipients become more financially stable and independent through reliable transportation. For example, a needy family can receive a car without hidden costs or debt. However, that family then becomes responsible for the car’s maintenance.
This includes making repairs, maintaining clean driving records, and so forth. The auto donation becomes a tool for confidence and financial stability. Low-income families and their children usually battle low self-esteem; preteens and teenagers are particularly at risk. Preteens are expected to gradually start going places without parents or other adult chaperones for short times that lengthen as they get older. Teenagers find themselves surrounded with talk of driver’s education, permits, and licenses.
However, a teen cannot have these experiences or learn the responsibilities of car ownership if his or her family doesn’t own a working vehicle. Auto donation through Vehicles for Change opens these experiences and freedoms to preteens, teens, and young adults.
Preteens and teenagers can use the family car to learn the rules of the road alongside their peers. Teenagers can also gain confidence as they use the family vehicle to help out more, perhaps through picking up siblings from school or running errands for Mom and Dad. Finally, taking care of a donated vehicle increases maturity, gratitude, and willingness to tackle responsibilities.
Some families also have members with special needs. This doesn’t always mean disabilities, although those are certainly part of the equation. A special needs family member is anyone who needs extra physical or emotional care or depends on others to perform daily functions. This includes grandparents and other elderly relatives, disabled family members, veterans, and family members with chronic illnesses.
How Auto Donation Works
Vehicles for Change and the term “auto donation” have been synonymous for more than fifteen years. Over that period of time, the organization has helped thousands of individuals and families achieve freedom. Much of the program’s success lies in its ability to target diverse populations while monitoring and screening applicants.
To gain access to a donated car, applicants must apply for the program. The program awards vehicles to low-income families and guarantees low-interest loans. Applications must be filed through an approved agency and, if approved, applicants are usually only charged $750 for the vehicle.
For the past 15 years, Vehicles for Change has overseen vehicle donations. During that time frame, it has served more than 20,000 people – including 5,000 low-income families in recent years. Often facing hardships like job loss, disability, or jail time, these families have very real needs. Reliable vehicles can completely change a family’s life and often provide a chance to obtain financial freedom and security.
The Vehicles for Change Donation Process
Vehicles for Change does not place donors in touch with recipients. However, the staff does reassure donors that their vehicles help families who truly need them. Vehicles for Change has several donation options that all follow a simple three-step process.
Donors start the process by completing a donation form – which can be filled out online, printed on a paper form, or done over the phone. Once the form is complete, donors can expect to hear back from Vehicles for Change within 24-48 hours. After receiving confirmation, donors will be contacted to schedule a pick-up time within three business days. The pick-up service is complimentary. The final step involves the donor to meet the tow truck, hand over the keys and title, and obtain a proof of donation slip; however, it is not required that the donor be there at the time of pick up.
In accordance with IRS regulations, Vehicles for Change will supply donors with a tax receipt after the vehicle has been processed. If the vehicle is directly awarded to a family, the tax receipt will be mailed within 30 days of the vehicle’s pickup date. If the donated car is sold at the Vehicles for Change retail lot or auction, the tax receipt will be sent within 30 days of the sale.
What Happens to Donated Vehicles
As mentioned, not all vehicles are directly awarded to families in need. Don’t worry though; 100% of your donation willhelp low-income families – guaranteed. What purpose your vehicle is used for, however, depends on its condition and value.
If the vehicle can be reconditioned or repaired for less than $1,000 and will provide a minimum of two years or 24,000 miles of service, it will be repaired and awarded to a pre-qualified family. If it needs a major repair, such as a new transmission, but is otherwise in good condition, it will be repaired and sold through Vehicles for Change’s used car lot, Freedom Wheels. Proceeds will then be used to repair other cars for families in need.
While luxury cars are certainly accepted, they are not directly awarded to low-income families. This is because they often require expensive upkeep and repair. More value can be extracted by selling them through Freedom Wheels.
Finally, if a vehicle does not meet reliability standards and requires major repairs, Vehicles for Change may fix it up and auction it off through a third-party partner. The proceeds will then be used to aid in other repairs and reconditioning.
Families in Need of a Vehicle
Families in need of a vehicle should discuss their options with their affiliated job-readiness or social-service agency. Before going through the application process, review the requirements and ensure you meet each qualification.
Make a Difference Today with VFC
Making a difference in a family’s life is simpler than ever. For more information on how to participate in Vehicles for Change’s auto donation program, don’t hesitate to get in contact with the program today. Thousands of lives have been positively impacted through this incredible initiative, and thousands more will continue to be changed in the future.