Donating a car could be one of the least cost-effective ways to aid
a charity, says industry expert.
The car-donation industry is riddled with fraud and deception, with
multiple states investigating outfits for false advertising and
These eight tips can help donors protect themselves while trying to
help out others.
Thinking of donating your clunker to charity for a nice tax
deduction? Proceed with caution.
The gifting of used cars to charities” has become a favorite way
for Americans to dispose of unwanted vehicles. And why not? You can
avoid the headache of selling or junking the car, help a charitable
cause and lower your tax burden all at the same time.
Unfortunately, the experience is rarely, in reality, such a win-win
situation. Not only do charities typically see little of the
proceeds from a used car sale, but donors can run afoul of the
taxman if they’re not careful.