What should we do with the car? This is a question that beneficiaries or trustees, and their lawyers often face to settle an estate. No one in the family may really need mom's old Taurus, or the person who inherits it may not want to bother selling it. Advertising and showing the car, particularly if one is not familiar with its history or documentation, may not be worth the return. In some cases, the ability to sell the car may even be complicated by the power of attorney for the title transfer.
Donating the vehicle to Caring Cars may be the answer for for family members who don't know what to do with the car they inherited, or for people writing their wills and trying to decide who should get the car.
In both of these situations, the donor may be able to reduce their tax liability, and in the bargain, will be doing a lot to help their local community.
Caring Cars provides vehicles to people who are truly in need of transportation so they can go to work or keep their jobs. We work closely with DHR and local human services agencies to select those families most in need in the Madison County and Tennessee Valley area.
Caring Cars are not sold at auction. They stay on the road right here in our area helping families get to work. The only time that a donated car will be sold is if it is too expensive for a low income person to maintain/operate, or if its unsuitable for some other reason (like a small exotic sports car). The proceeds from any sales go into our repair fund to put other donated cars on the road.
DONATE YOUR VEHICLE
Tax
Deductible
Call
(256)
551-1610
Find
out if the charity actually plans to give the car to someone in need, or
otherwise how much the charity actually benefits financially from the car.
Make sure the title of the car is transferred to the charity's name and keep a copy of this record.
For tax records, take a photo of the car and keep copies of current classified ads or car value guide estimates for similar vehicles. (For more deductibility information, get a copy of IRS Publication 561, Determining the Value of Donated Property.)
If the vehicle is worth more than $5,000, get a written professional appraisal.
The information on this page/website is based on our interpretation of current IRS rules, and is not intended as personal tax advice. You should consult the IRS and a professional income tax advisor for any advice on the documentation and tax deductibility of any donation.

© 2007 Family Services Center - Huntsville, AL