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  • Anyone Donated a Stude to Charity Successfully?

    The subject pretty much says it all. I have a nice driver '63 Lark sedan that I have been trying to sell for two years without success. On eBay twice, in TW once, advertised locally; priced on par with what I've seen of cars in similar trim and condition. Several tire kickers - some of whom have strung me along for months - but no sale. I should add that it's an OHV 6 sedan with AT, which goes to explain a lot.

    I will not bore you with the list of reasons that the car must go (suffice it to say that most are personal and involve finances and health issues I'd rather not disclose) but go it must. I figure if I can't sell it without giving it away, why not give it away and at least get what it's worth as a tax writeoff?

    Ed

  • #2
    You might want to be careful doing that. A few years ago I donated a 1987 Dodge 600 to the Salvation Army. They gave me a receipt for the NADA value of the car as a deduction ($2200), which was considerably more than it was really worth (it had a blown head gasket).

    Recently, the law changed (not sure if this is Federal or not), but when you donate a car, you cannot take the deduction until the charity has sold it. That becomes the value of the deduction.

    After I donated my Dodge, about a year later I noticed it parked in a campground. I found the current owner and found he'd bought it at a Salvation Army auction for $50, then fixed the head gasket. That means my $2200 deduction would have only been $50.

    ________________________
    Mark Anderson
    1965 Cruiser
    http://home.alltel.net/anderm

    Comment


    • #3
      You might want to be careful doing that. A few years ago I donated a 1987 Dodge 600 to the Salvation Army. They gave me a receipt for the NADA value of the car as a deduction ($2200), which was considerably more than it was really worth (it had a blown head gasket).

      Recently, the law changed (not sure if this is Federal or not), but when you donate a car, you cannot take the deduction until the charity has sold it. That becomes the value of the deduction.

      After I donated my Dodge, about a year later I noticed it parked in a campground. I found the current owner and found he'd bought it at a Salvation Army auction for $50, then fixed the head gasket. That means my $2200 deduction would have only been $50.

      ________________________
      Mark Anderson
      1965 Cruiser
      http://home.alltel.net/anderm

      Comment


      • #4
        I have always been curious about donating a vehicle to a charitable organization that can actually USE the vehicle. What happens then? For instance, donating a 15 passenger van to a boys & girls club or church, donating a truck to a charity that does pick-ups around town. If it isn't sold, then what? I have an old Blazer 4WD that I have considered donating to sea scouts, boys & girls club, boy scouts, etc. that probably books out for $400, but could fetch $3000 privately. I really don't want to advertise it and have folks coming by (and picking it apart) for $3000, but I wouldn't mind a $3000 tax deduction and the knowledge that some youngsters are getting some desert fun/education in my old Blazer. Any ideas?

        Las Vegas, NV
        '51 Champion Business Coupe G899965 10G-Q4-1434

        Comment


        • #5
          I have always been curious about donating a vehicle to a charitable organization that can actually USE the vehicle. What happens then? For instance, donating a 15 passenger van to a boys & girls club or church, donating a truck to a charity that does pick-ups around town. If it isn't sold, then what? I have an old Blazer 4WD that I have considered donating to sea scouts, boys & girls club, boy scouts, etc. that probably books out for $400, but could fetch $3000 privately. I really don't want to advertise it and have folks coming by (and picking it apart) for $3000, but I wouldn't mind a $3000 tax deduction and the knowledge that some youngsters are getting some desert fun/education in my old Blazer. Any ideas?

          Las Vegas, NV
          '51 Champion Business Coupe G899965 10G-Q4-1434

          Comment


          • #6
            I donated a car to the Salvation Army the year b4 the new IRS laws were changed. You were able to deduct the value of the car. Now, it is what they get at auction hence, if they get 100 for the car thats what you get for a deduction.

            Try it again on Ebay. Maybe ask a lower price or even look to donating it to the Studebaker Museum. In the museum case, you may be able to get the value but, it depends if they want it.

            Comment


            • #7
              I donated a car to the Salvation Army the year b4 the new IRS laws were changed. You were able to deduct the value of the car. Now, it is what they get at auction hence, if they get 100 for the car thats what you get for a deduction.

              Try it again on Ebay. Maybe ask a lower price or even look to donating it to the Studebaker Museum. In the museum case, you may be able to get the value but, it depends if they want it.

              Comment


              • #8
                If you donate it, you'll only get whatever it books for (if the charity keeps it).

                quote:Originally posted by vegas paul

                I have always been curious about donating a vehicle to a charitable organization that can actually USE the vehicle. What happens then? For instance, donating a 15 passenger van to a boys & girls club or church, donating a truck to a charity that does pick-ups around town. If it isn't sold, then what? I have an old Blazer 4WD that I have considered donating to sea scouts, boys & girls club, boy scouts, etc. that probably books out for $400, but could fetch $3000 privately. I really don't want to advertise it and have folks coming by (and picking it apart) for $3000, but I wouldn't mind a $3000 tax deduction and the knowledge that some youngsters are getting some desert fun/education in my old Blazer. Any ideas?

                Las Vegas, NV
                '51 Champion Business Coupe G899965 10G-Q4-1434
                ________________________
                Mark Anderson
                1965 Cruiser
                http://home.alltel.net/anderm

                Comment


                • #9
                  If you donate it, you'll only get whatever it books for (if the charity keeps it).

                  quote:Originally posted by vegas paul

                  I have always been curious about donating a vehicle to a charitable organization that can actually USE the vehicle. What happens then? For instance, donating a 15 passenger van to a boys & girls club or church, donating a truck to a charity that does pick-ups around town. If it isn't sold, then what? I have an old Blazer 4WD that I have considered donating to sea scouts, boys & girls club, boy scouts, etc. that probably books out for $400, but could fetch $3000 privately. I really don't want to advertise it and have folks coming by (and picking it apart) for $3000, but I wouldn't mind a $3000 tax deduction and the knowledge that some youngsters are getting some desert fun/education in my old Blazer. Any ideas?

                  Las Vegas, NV
                  '51 Champion Business Coupe G899965 10G-Q4-1434
                  ________________________
                  Mark Anderson
                  1965 Cruiser
                  http://home.alltel.net/anderm

                  Comment


                  • #10
                    Another thing to keep in mind (and correct me if I'm wrong) is that say you get a $3000 deduction. If that comes off your gross, the amount taken off the tax paid is minimal ($200? maybe). I never thought this was anyway to recoupe the cost of a car unless it was junk (like my '86 Suburu wagon with a blown engine).

                    Also, auctions for charities rarely draw the big spenders (if anyone) to look at the 'old' stuff dumped on the charity. The charity rarely puts a reserve on anything in the lot to be auctioned either. And in many cases, if the case doesn't sell, off to the scrapper it goes.

                    ---------------------------------------------------------------------------------------------------
                    Tom - Valrico, FL

                    1964 Studebaker Daytona

                    Tom - Bradenton, FL

                    1964 Studebaker Daytona - 289 4V, 4-Speed (Cost To Date: $2514.10)
                    1964 Studebaker Commander - 170 1V, 3-Speed w/OD

                    Comment


                    • #11
                      Another thing to keep in mind (and correct me if I'm wrong) is that say you get a $3000 deduction. If that comes off your gross, the amount taken off the tax paid is minimal ($200? maybe). I never thought this was anyway to recoupe the cost of a car unless it was junk (like my '86 Suburu wagon with a blown engine).

                      Also, auctions for charities rarely draw the big spenders (if anyone) to look at the 'old' stuff dumped on the charity. The charity rarely puts a reserve on anything in the lot to be auctioned either. And in many cases, if the case doesn't sell, off to the scrapper it goes.

                      ---------------------------------------------------------------------------------------------------
                      Tom - Valrico, FL

                      1964 Studebaker Daytona

                      Tom - Bradenton, FL

                      1964 Studebaker Daytona - 289 4V, 4-Speed (Cost To Date: $2514.10)
                      1964 Studebaker Commander - 170 1V, 3-Speed w/OD

                      Comment


                      • #12
                        The charity doesn't care about you - just getting their money.
                        You would be better off selling it yourself at am auction where car collectors go, paying your fee and donating the cash (or throwing a party to celebrate the clear spot.)

                        If the car is any good the tow firm will work a deal with some auction firm and get it for low-ball.

                        Karl

                        (PS It also took me several calls to get my receipt from the charity, then my tax lady said that I didn't make enopugh to move from the standard deduction!

                        Comment


                        • #13
                          The charity doesn't care about you - just getting their money.
                          You would be better off selling it yourself at am auction where car collectors go, paying your fee and donating the cash (or throwing a party to celebrate the clear spot.)

                          If the car is any good the tow firm will work a deal with some auction firm and get it for low-ball.

                          Karl

                          (PS It also took me several calls to get my receipt from the charity, then my tax lady said that I didn't make enopugh to move from the standard deduction!

                          Comment


                          • #14
                            While chasing a Avanti II on ebay, I found out how most of the cars are sold around here. The Avanti was owned by a broker that bought all the cars from in our area from Goodwill, Salvation Army and the rest. He bragged that he'd bought the Avanti, a Volvo and a couple of other cars for $500 total and a small "tip" to the Goodwill manager.
                            I guess a old, tired Studebaker would get you maybe a $50 donation with the new law, maybe save you $10 on your taxes.

                            JDP/Maryland

                            64 Commander
                            64 GT R2 clone-63 GT R2
                            63 Avanti R1
                            63 Daytona convert-63
                            63 Lark 2 door
                            62 Lark 2 door
                            60 Lark HT-60Hawk
                            59 3E truck
                            52 & 53 Starliner
                            51 Commander

                            JDP Maryland

                            Comment


                            • #15
                              While chasing a Avanti II on ebay, I found out how most of the cars are sold around here. The Avanti was owned by a broker that bought all the cars from in our area from Goodwill, Salvation Army and the rest. He bragged that he'd bought the Avanti, a Volvo and a couple of other cars for $500 total and a small "tip" to the Goodwill manager.
                              I guess a old, tired Studebaker would get you maybe a $50 donation with the new law, maybe save you $10 on your taxes.

                              JDP/Maryland

                              64 Commander
                              64 GT R2 clone-63 GT R2
                              63 Avanti R1
                              63 Daytona convert-63
                              63 Lark 2 door
                              62 Lark 2 door
                              60 Lark HT-60Hawk
                              59 3E truck
                              52 & 53 Starliner
                              51 Commander

                              JDP Maryland

                              Comment

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