Choosing CAR DONATION CHARITIES
If you've decided to donate your car, you're not alone. Whether it is to help their communities, eliminate clutter, or receive a tax deduction, many people donate their car every year. Charities often accept cars, trucks, SUVs, and motorcycle donations. It can be confusing, however, to decide what charity is best. There are two main factors when deciding on car donation charities: how your donation will benefit others and how it will benefit you.
Benefits to You
The initial motivation behind deciding to donate a car can tend to be selfish. The old car may be taking up space in your driveway or garage. It may require more money to repair than you're interested in investing. Or, you simply don't need the vehicle anymore. Car donationoffers a multitude of benefits for donors. To maximize your benefits as a donor, it's important to pick the right charity. Vehicles for Change offers the best financial benefits for donating a car.
Tax Advantages at Vehicles for Change
Vehicles for Change uses cars for their practical benefits, rather than selling them for profit. Most charities sell all donated cars. This isn't necessarily a bad thing, as the funds typically go to a good cause. However, this use of donated vehicles severely limits your tax benefits as a donor. Vehicles for Change repairs and sells certain cars (for a reduced price) to families in need. Because the organization uses vehicles in this way, federal regulations allow donors to make much larger tax deductions on donated vehicles. Of all car donation charities around the Baltimore and Washington, D.C., areas, Vehicles for Change is the only one to offer these tax benefits.
If your donated vehicle is in good condition and meets the program criteria, you can deduct the full fair market value of the vehicle from your taxes. These vehicles tend to have fewer than 150,000 miles on them and are between 10 and 12 years old. Vehicles for Change must be able to repair these vehicles to provide at least 2 years of reliable service for less than $1,000.
A donated luxury vehicle can't be sold to a lower-income recipient. Upkeep on these vehicles is too expensive to be practical for these families. These vehicles are therefore sold through Freedom Wheels, a non-profit used car lot operated by Vehicles for Change. Donors can deduct the selling price from their taxes. The selling price is typically close or equal to the vehicle's fair market value.
Vehicles that need more extensive repairs still offer great tax benefits. Vehicles that are mostly in good condition, but may require a major repair, like a new transmission, are fixed up and sold through Freedom Wheels. Donors are able to deduct the fair market value of the vehicle minus the estimated cost of repairs. Vehicles that are too damaged to be economically feasible to fix up are still accepted as donations. These are auctioned off at one of Vehicles for Change's partners. Donors can deduct the vehicle's selling price. Vehicles for Change usually sets a minimum bid, making the eventual selling price of the car fair.
Therefore, Vehicles for Change is one of the best car donation charitiesavailable in terms of donor benefits.
Vehicles for Change accepts cars, trucks, and SUVs from the Maryland, Washington, D.C., and Virginia area. Donated vehicles from around the country are also usually accepted. Motorcycles, RVs, and boats are considered case-by-case. To find our your eligibility for car donation charities, contact Vehicles for Change.
Benefits to Others
One of the main reasons to donate a vehicle is the benefits to others in your community it can provide. Vehicles for Change's approach aims to improve the lives of needy families.
The Impact Car Donations Charities Have on Needy Families
Many parents in urban, suburban, and rural areas across the country have their opportunities limited as a result of not owning a vehicle. Reliance on public transportation means longer commutes. This means less sleep, less time, and less energy. When it comes to being a parent, limitations in any of these areas take a toll.
In most cases, the situation described above is a best case scenario for a lower-income family. Most places in the United States do not offer reliable public transportation, and many have none. Countless lower-income parents work service jobs, which come with unusual hours. For evening and early morning shifts, public transportation is often unavailable.
The longer commutes these parents face, whether they walk, run, or bike to work, severely limits their ability to care for a family. Most of these parents are qualified for better paying jobs, but since they lack transportation, they have no way to access these opportunities. This leaves them stuck in the same position that doesn't pay them what they deserve.
Opportunities for in-job advancement may also be limited, especially since the lack of reliable transportation can lead to an irregular schedule unaccepted by many supervisors. Vehicles for Change is one of the only car donation charities to take these factors into account and awards vehicles to needy families rather than selling them for the charity’s profit.
When presented with affordable vehicles that provide a minimum of two years of service, the lives of these families change completely. With significantly reduced commutes, parents are able to bring children to and from after school activities. They are also able to spend more time with their children and make significant strides out of poverty with their expanded job opportunities. Parents with cars no longer have to be underemployed. This allows them to be healthier, happier parents raising healthier, happier children.
Education Opportunities at Vehicles for Change
Vehicles for Change also offers education opportunities for those who wish to improve their job prospects. The organization is one of the only car donation charities to take this approach to helping families out of poverty. Students do not require a driver's license, high school diploma, or GED to enroll. The organization trains students in automotive detailing. After they get through the course, they are paid for a month to help out at Vehicles for Change. They then can seek other employment opportunities, with help from the organization. Education prospects will also be expanding by the end of this year.
When selecting car donation charities, choose Vehicles for Change.