Many of our donors ask us “How much can I get back from donating my car”. This is a great question that should be seen from two different perspectives.
The first perspective to look at, is that of giving. When you donate your car you’re helping a charity of your choice, which in turn helps so many people. Charities rely on donations to stay afloat. Every small act of goodness ignites a chain of good things. You get to be a part of that and that should make you feel wonderful. Now I know that we all live in a world where money and bills exist and that isn’t the same as cold hard cash, (we would all donate all of our cars and money if we didn’t have to worry about it, right?) but we’ll get to that in a minute. There is nothing more truly rewarding/gratifying than knowing that you’ve helped other people, that you’ve done a good thing. When you donate your car, you’re doing just that!
When you donate your car through us, we do our best to increase it’s value. We evaluate the car first and foremost; then after deciding what all it needs, most cars undergo full detailing. This ends up raising the value of the car usually substantially higher than what it originally would have sold for. We take care of that for you. Everything that is done to improve the car is overseen and approved by the founder of Harold’s Car Donation Service, Inc., Harold Beach. He has over 30 years of experience in the car repair industry and as a trouble shooting specialist he makes sure we can raise the value of the car as much as possible. Some cars get repaired if cost-effective, sometimes increasing the selling price more than 4X. In some cases, depending on the nature of the repairs, it can even be much higher than this. What is good about this, the donor gets the to deduct the full selling price after the increase, all of which is allowed by the IRS.
Another question we get all the time is, ‘’How much of a tax deductible will I really be getting?’’. Which is a fair question, so let’s put it this way, if the car you donated gets sold for less than $500 dollars, your tax deduction at the end of the year will be fair market value up to $500, and the amount of this is determined by you. Now if the car that was valued at $500 originally ends up getting sold for $600, $700 or more, the tax deduction is for the actual selling price. You get to deduct the amount the buyer pays, before any expenses are deducted, such as towing, repairs, detailing, etc. So this is very good!
You donate your car, we fix it up, it gets sold, you help a bunch of hardworking people in need and get a pretty sweet tax deduction, not a bad deal!
What this all boils down to, when it is time to get rid of your car we will do our best to get you the highest tax savings.