How to Donate a Car in Delaware
Donating your old car to a charity in Delaware can earn you a significant federal tax deduction.
Written by Holden Easterbrook
Reviewed by Kathleen Flear
Charity donations are a great way to quickly offload an unwanted vehicle in Delaware while helping out your community. As a bonus, doing so can net you a federal tax deduction.
Are you having trouble finding a new home for an unwanted car? While you might be able to
sell it
or trade it in
to a dealership, why not turn that hunk of junk into a world of good? There are a lot of great non-profit organizations in Delaware and across the nation that will gladly that that old car off your hands and help you get a big tax deduction in return.To help you maximize your tax deduction for donating a vehicle, the
car insurance
app Jerry
is going above and beyond. Keep reading for a step-by-step guide to donating your car in Delaware, including how to estimate your earned tax deduction and where you might consider donating. If you want to know how to reduce your Delaware car insurance costs
, we'll include a tip for that, too. How to donate a car in Delaware
There’s no better way to rid yourself of an unwanted car than by donating it to charity. You’ll need to do a little research, however. Donating to the wrong organization can leave you without access to a sizeable federal tax deduction!
- Find a reputable non-profit organization. With so many scams tricking unwary donors, you must do your research before settling on a charity to donate to.
- Utilize Pub. 78 data. The IRS has a handyonline search toolthat will tell you which charities can accept tax-deductible donations.
- Gather the needed documents. Along with the signed title, you may need the VIN, current mileage, and make/model of the car you plan on donating.
- Get the fair market value. The size of your tax deduction will be based on the fair market value of the vehicle you’re donating. Websites likeKelley Blue Bookcan help you find this information.
- Set the time and date of the pickup. Once you’ve checked off the previous steps, it’s time to contact the charity to schedule a time for them to collect the car.
- Save your paperwork. You won’t be able to capitalize on your federal tax deduction if you don’t have the receipt from your donation. Additionally, be sure to find out the sale price of your old car—that can also be used to determine the amount of your tax deduction.
How do taxes work when donating a car?
To determine the amount of your eligible tax deduction, you’ll need to know whether or not the car was sold, as well as the sale price if it did sell.
- If the charity sells the carFor a sum more than $500—your tax deduction will be equal to the sale price of the vehicle.For a sum less than $500—your tax deduction will be up to $500.
- They keep the car—your tax deduction will be equal to the fair market value of the vehicle.
Key Takeaway Between scam outfits and some charities being unable to accept tax-deductible donations, you need to do your homework before donating your unwanted vehicle.
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Where to donate a car in Delaware
Looking for some ideas of where to donate your unwanted car? Below are only a few of the many organizations trying to make Delaware an even better place.
Kars4Kids
Kars4Kids
is a great organization that seeks to provide safe and nurturing environments for children nationwide. With mentorship programs, afterschool activities, and educational support, they can do a world of good with your unwanted car.Wheels for Wishes
Wheels for Wishes
partners with the Make-A-Wish foundation to bring some joy to the lives of hospitalized and extremely ill children. By parting with your old vehicle, you can make a kid’s dreams a reality (while saving money on your taxes).Vehicles for Veterans
Looking for ways to thank those that put their lives on the line to protect this nation?
Vehicles for Veterans
is a non-profit organization dedicated to helping disabled veterans and former service members get the services they desperately need. By donating your old clunker, you can help provide medical treatment, housing, and employment opportunities for those that have already done their part.Cars2Charities
Cars2Charities
is a sort of middle-man that takes unwanted cars, gets as much value out of them as possible, and funnels the proceeds into charity organizations that desperately need the funding. This is a great option for those who like to maximize the value and impact of their donations.How to find affordable car insurance quotes in Delaware
Now that you’ve done your good deed for the day (and saved yourself a bundle on your taxes), you can keep the savings going by finding a much more affordable car insurance policy through the
Jerry
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trustworthy licensed insurance broker
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