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Features and Benefits for Vehicle Donors
Chariots 4 Charity makes vehicle donation fast, easy and safe for Donors. If you are a Donor everything you need to know about vehicle donation can be found here.
The Donation Process
- Chariots 4 Charity will accept any vehicle, running or not, in the Southeast Florida area. We will make exceptions for donations outside this area on a case by case basis.
- We accept any kind of vehicle: cars, suv's, trucks, motorcycles, RV’s, campers, boats, watercraft, small aircraft, utility and cargo trailers, heavy equipment, farm machinery, golf carts, etc. If you have a unique item, please call us at 954-722-3010 so that our donation experts may address any special issues. In rare cases, we are unable to accept a vehicle donation when the costs of transport and processing fees exceed the resale value of the vehicle.
- Most donors prefer to input the vehicle and pick-up information on our website. Just click on the charity of your choice under “Donate Today” and enter the necessary information. Once completed you will be prompted to print and sign the Odometer Statement and the Limited Power of Attorney. Or you can call 954-722-3010 and our trained Service Center Staff will walk you through the donation process.
- Florida State Law does require a title certificate to be provided with your donation. In some instances a copy of your vehicle registration, drivers license and a signed affidavit is sufficient.
- Our normal pick-up schedule is within a few days of receiving your donation request. You will receive a call from our licensed and insured tow service to arrange a convenient pick-up time. There is never a cost to you as the donor.
Tax Benefits
If you itemize deductions on your income tax return, it may be possible to claim a deduction for your car donation.
In 2005 the IRS changed the laws related to tax deductibility of vehicle donations. Under the new rules, the deductible amount of your donation is directly related to the selling price of your vehicle.
If your vehicle sells for less than $500 you can take a deduction equal to the 'fair market value' of your donation up to $500. Fair Market Value is loosely explained as the "Blue Book" or "Guide Book" value of your vehicle. (for the most part this value is at least $500 for whole vehicles). See the links below for Kelley Blue Book, NADA Guides or Edmunds.
If your vehicle sells for more than $500 your may deduct only the full selling price of the vehicle.
The charity is required by IRS to send to the donor a contemporaneous written acknowledgement (receipt) within 30 days of sale. This Receipt must include the following:
- The gross selling price of the vehicle (if sold for greater than $500)
- Year, Make, Model and VIN Information
- A statement that the vehicle was sold at arms length between two unrelated parties
- And a statement that no goods or services were received in return for your contribution.
If you have additional question about deductions and IRS Regulations the following links may be of assistance:
IRS Publication 4303, A Donor's Guide to Car Donations (PDF)
Publication 526, Charitable Contributions (PDF)
Publication 561, Determining the Value of Donated Property (PDF)
Form 8283 Noncash Charitable Contributions (PDF)
Instructions for Form 8283, Noncash Charitable Contributions (PDF)
Links to Valuation
Kelley Blue Book ~ www.kbb.com
Edmunds ~ www.edmunds.com
NADA Guides ~ www.nadaguides.com
When to Donate
- Donate when mechanical problems or body damage means that the cost of repairing the vehicle exceeds its retail value. You might not be able to sell a vehicle with these issues.
- The donation value (and tax deduction value) will often exceed the trade-in price you are offered at a dealer.
- Avoid the hassle of selling it yourself. No ads, no dealing with strangers at your door and most importantly, no hassles!
- If you wish to donate and receive the tax benefit on your next tax return please donate prior to December 31st.
- When you really want to help out a charity but are limited on cash funds to do so, a vehicle donation is ideal!
What happens to the vehicle?
Older, severely damaged and unsafe vehicles are often sold directly to dismantlers for parts and various metals. All other vehicles go through our rigorous repair and recondition process to make ready for resale in order to achieve the maximum sales price and maximum charity benefit.
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