Car Donatoin Tax Deduction
What will my deduction be for my donated vehicle?
A donor’s tax deduction depends on how their vehicle is used by VFC. Read our deduction guidelines.
My vehicle will be sold through Freedom Wheels. What tax deduction can I expect?
As long as no major repairs are made to these cars, donors of vehicle sold through Freedom Wheels are able to deduct the selling price of their vehicle. This price is typically close or equal to the fair market value of the vehicle.
My vehicle will be sold at auction. What tax deduction can I expect?
Donors whose vehicles sell at auction are able to deduct the selling price of the vehicle. It is important to note that auctions are a unique market. In our experience, vehicles at auction typically sell for 1/3 – ½ of the fair market value of the vehicle. Donors can use an online tool such as the “What’s My Current Car Worth” feature on www.kbb.com to estimate the fair market value of their vehicle.