Vehicles to Charity
What comes to mind when you hear ‘Vehicles to Charity’? Some might assume giving an entire vehicle away to a charity for free. While this is a good assumption, and the same many have when they first hear about such a process, it’s not necessarily true. Yes, people are giving their vehicles to a charity, but they are also writing off the amount on their taxes for deductions.
The process looks like this:
1. A donor elects to donate a vehicle for a charity of his or her choice through the organization Vehicles To Charity.
2. The donor must document the fair market price for the vehicle before donating the vehicle. Why? If the charity decides to keep the vehicle for running errands or other transportation needs, then the fair market price is what will be written off on taxes.
3. The charity of choice decides what they want to do with the vehicle. Either they sell it or keep it for transportation needs.
4. Likewise, if a charity sells the vehicle, then the selling price is what the donor can write off on taxes. The charity must provide documentation of the sale for a proper tax deduction.
5. The benefits are not just tax deductions—the charity receives substantial funds or use of the vehicle to further the work of the charity in the community. When you donate, you enable the charity to give back to the community in tremendous ways.
People are not only donating because of tax deductions, but because they are also skipping the hassle of selling the vehicle themselves. Let’s admit it, selling a vehicle can be a hassle and one we would like to avoid if possible. Donating a vehicle to a charity eliminates that hassle completely.
It’s all about empowering others to continue incredible work within the community just by offering what you have. When a vehicle is no longer in use, it’s best to offer it to people who can use it the most. Make a difference in the lives of people benefiting from the work of charities just by giving up a vehicle you no longer use.
For more information, please feel free to contact us
VehiclesToCharity.com
701 N Kelley Ave #52943
Oklahoma City, OK 73152
405-698-2714
