 SOT: Car donation, any suggestions, experience?? |
|
|
|
Porsche, and the Porsche crest are registered trademarks of Dr. Ing. h.c. F. Porsche AG.
This site is not affiliated with Porsche in any way. Its only purpose is to provide an online forum for car enthusiasts. All other trademarks are property of their respective owners. |
|
|
  |
| jhadler |
 Dec 29 2008, 05:04 PM
Post
#1
|
|
Long term tinkerer...  Group: Members Posts: 1,879 Joined: 7-April 03 From: Lyons, CO Member No.: 529  |
Hey all,
The wife and I are planning on acquiring a (wait for it...) minivan.... We need to thin the heard, and we have this old (1980) Volvo 240 that's been doing nothing for months now. Were thinking of donating it and taking the write-off this year. I was wondering if any of you have experience with this? Suggestions? Thanks! -Josh2 |
   |
 
|
| g911 |
Dec 29 2008, 07:03 PM
Post
#2
|
|
Member Group: Members Posts: 222 Joined: 13-January 06 From: Not Tellin' Member No.: 5,413 Region Association: None 
|
Done it 2x. Volunteers of America took both my old vans. 2004 was the last time I did it. I think the IRS rules have changed a bit. Now I think they will only give you credit at the price the car actually sells for at auction, instead of blue book. Because both my vans had ~200,000 miles and were rusted out.
|
|
|
|
| flippa |
Dec 29 2008, 07:31 PM
Post
#3
|
|
Advanced Member Group: Members Posts: 3,177 Joined: 7-May 07 From: Boston, MA Member No.: 7,720 Region Association: North East States |
I donated several as well in the past to Volunteers of America.
The IRS rules changed in 2006; you only can write off the actual sale price of the vehicle. You may make out better selling it on your own. |
|
|
|
| Al Meredith |
Dec 29 2008, 08:09 PM
Post
#4
|
|
Senior Member Group: Members Posts: 960 Joined: 4-November 04 From: Atlanta, ga Member No.: 3,061 |
I did it couple of years ago when you could write off the KBB (kelly blue book) value. That was great, My wife backed her94 Dodge through the house next door. The insurance Co. totaled it and I bought it back for $250. Donated it for KBB $2700 in good condition ( the front 95% was like new) . Congress found out about this loop hole and changer the deduction to the amount it sold for . It worked for me though.
|
|
|
|
| GeorgeRud |
Dec 29 2008, 08:43 PM
Post
#5
|
|
Advanced Member Group: Members Posts: 3,725 Joined: 27-July 05 From: Chicagoland Member No.: 4,482 Region Association: Upper MidWest |
I also donated an old Volvo 245 to a local charity (before the rules on donations changed). Even with the new donation tax rules, it's a nice way to hopefully help some less fortunate people.
In the Chicago area, there is also a battered women's and children's shelter that was taking donated cars, fixing them to a reliable shape, and giving them so some of these people could get to work, etc. |
|
|
|
| carr914 |
Dec 29 2008, 08:54 PM
Post
#6
|
|
Racer from Birth Group: Members Posts: 118,917 Joined: 2-February 04 From: Tampa,FL Member No.: 1,623 Region Association: South East States  |
I donated a 73 914 2.0 that had been in a major fire. Cancer Society had no problem with it (as they never saw it), the Tow Co./salvage yard was pissed.
T.C. |
|
|
|
| jhadler |
Dec 29 2008, 10:13 PM
Post
#7
|
|
Long term tinkerer... Group: Members Posts: 1,879 Joined: 7-April 03 From: Lyons, CO Member No.: 529 |
I placed a call to donateacar.com, and they said that I would receive a receipt for a $500 donation (fixed) when the tow truck shows up. I seriously doubt that we'd get more than that if we tried to sell it. It's in strong running condition, but it has most assuredly seen better days, cosmetically speaking...
Hurm... I could try for weeks to sell it, and maybe get a little more. Or I can place a single phone call and a truck will just show up and haul it away and I get a $500 write off... Whadya think? -Josh2 |
|
|
|
| LarryR |
Dec 29 2008, 10:17 PM
Post
#8
|
|
Senior Member Group: Members Posts: 929 Joined: 15-March 07 From: E. Bay Area, N. California Member No.: 7,604 |
QUOTE(jhadler @ Dec 29 2008, 08:13 PM)  I placed a call to donateacar.com, and they said that I would receive a receipt for a $500 donation (fixed) when the tow truck shows up. I seriously doubt that we'd get more than that if we tried to sell it. It's in strong running condition, but it has most assuredly seen better days, cosmetically speaking... Hurm... I could try for weeks to sell it, and maybe get a little more. Or I can place a single phone call and a truck will just show up and haul it away and I get a $500 write off... Whadya think? -Josh2 I think it would bring 1k-1500 if it runs good and has presentable paint. I have thought about buying one of those for my daughters first car. They have an incredible reputation for safety. A guy I work with bought one that is kind of cosmetically challenged but presentable for 2K. |
|
|
|
|
1 User(s) are reading this topic (1 Guests and 0 Anonymous Users)
0 Members:
|
Lo-Fi Version | Time is now: 2nd June 2024 - 10:03 AM |
Invision Power Board
v9.1.4 © 2024 IPS, Inc.