Cash for clunkers may have paid out some government money to new car buyers – but can you use the wreck in your garage as a charitable donation?
Be honest, if someone gave you a beat up car would you be thrilled or maybe not want it? Despite desperation, you will probably think, “What then?! This thing will cost me more money!” You see? that’s probably how charities will think too. As a matter of fact statistics will tell you that as much as 5% of all donated cars are a liability to the charities rather than an asset.
On the other hand, if your car is a vintage collectible even if it’s in really terrible shape you just might be able to get a charity that will be overjoyed at receiving your contribution. A vintage car donation is rare because like all antiques they very high resale value, and some are priceless. If you are truly committed to the essence of donating ask the charity to restore the car and then auction it off to the highest bidder.
Besides if you think about it, huge charitable organizations like the American Red Cross only accept “decent looking and functioning Cars.” They need to make a profit so that they can channel it into humanitarian agendas. If your car is only slightly “shameful” the organization has subsidiaries that refurbish the car. Afterwards, they will either use it to carry out their duties or auction it to raise funds.