Have you outgrown your car collection? If you’ve found us you may be considering whether or not to donate a classic car to charity. We understand it can be a tough decision. After all, you sure look good in that American-made pony car. It’s nice to get looks and thumbs up from other drivers who admire a well-made, cherry red Ford Mustang. So why would you even consider donating a classic car to charity?
Cars have their own personality. You’ve broken in the leather seats and each little dent has a story — a memory of a special trip or the day you brought home your first dog. However, an emotional attachment to a car may no longer be practical. Maybe it’s taking up too much space in your garage. Perhaps you didn’t mean to end up with classic car; you just never got around to upgrading. Here are other reasons people choose to donate a classic car to charity:
You never exactly meant to have a “classic” car. Okay, so your Chevy Camaro is now considered a classic. It was paid off over a decade ago and you’ve taken care of it so well, it never made sense to buy a new car. Your kids don’t even want the Oldsmobile Cutlass because it’s not really cool to own anything that isn’t energy efficient. Maybe you’re not exactly the type to go to classic car museums. Perhaps you don’t make it a point to visit the best classic car shows in the country. If you and your classic car are in the “I-never-wanted-to-be-vintage” camp and you’re finally ready to lease or buy a new car, now is the perfect time to consider a classic car donation program.
Your Classic Car Needs Some Work. Repairs can be costly for older cars. Finding and repairing parts for custom cars or vintage sports coupes can cost more than payments on a new car. When you donate your classic car, we use experts to make repairs and improvements before finding a collector or other great buyer who can appreciate your car’s history. It it’s not running, we typically find a buyer who will see its potential and take it on as a special “project car” and will be committed to getting it back on the road after restoring it to its glory days. When we improve your classic or muscle car, we typically add between 25%-50% more value to the sale price. The charity you choose will be grateful, and you get a better tax deduction!
Chris’ 1962 Ford Mustang had been in the family for 53 years, and had gotten into quite a state. Since he didn’t have the time, money or energy to fix it up or even to find a buyer himself, the family decided to donate it. Initially, he called other vehicle donation programs but when he learned they planned to send it to a junkyard or sell it for scrap metal he kept dialing until he found us at Cars2Charities. Chris wanted to be sure his family’s beloved Mustang would find a new home with someone who would lovingly restore it and get it back on the road. We knew we could find a great buyer for it who would pay $3500 to $4000 as a restoration project — even before fixing the rust or getting the vehicle to actually run. In the end, we were able to raise great money for Chris’s church and the new owner even promised to send Chris photos after the Mustang is restored.
You bought a “classic car project” and just haven’t had time to ever quite finish it yourself. Perhaps life changed, and you don’t have the time or resources you expected, or it’s just a bigger project than you imagined. Perhaps you’re coming to terms with the possibility that at this rate you may never be able to complete it the way you originally envisioned. Perhaps your significant other is even at nearing the point of an ultimatum. It’s time to do something!
You’re not sure how to sell your classic car yourself, to get the best value. Classic cars are a niche market. Perhaps you don’t live in the Top 5 Classic Car Cities. Do you really want the added job of becoming a classic car sales person? Not to mention if you are having trouble tracking down missing legal documents like your car’s title, or registration lapsed long ago. Selling may not even be worth your time. In fact, some CPAs recommend classic car donation as a smart financial move for their clients.
Of course there are some amazing charities that would be happy to have classic cars donated. We eliminate the middleman and sell the car directly to a buyer on behalf of the charity you choose. The proceeds do wonders to help non-profits thrive and make the world a better place. Now on top of that, have you considered the personal benefits of classic car donation? Other than those feel-good tingles, here are some nice perks to being a donor:
Declutter with free towing. Maybe it’s time to get your garage back. That Chevrolet Bel Air is awesome — a real treasure, but not if it’s sitting under a tarp unused in your driveway. Maybe your spouse would like a little more storage while your classic car collection is simply collecting dust. When you no longer drive your vintage muscle car, donation is a good option. Simply call 855-520-2100 and we will arrange for expert towing.
The Best Classic Car Donation Program Adds Value. Adding value to classic cars is what makes us special. When you choose to donate any classic car to charity, you want to be sure that you are getting the best value for your charity and for your tax deduction. After improvements to your classic vehicle, we typically add 25%-50% more value to the final sale price. (You’re welcome, charity!) It’s also a benefit for you because you can deduct the final sale price from your taxable income. Everyone benefits.
1. Call 855-520-2100 or click on the “Donate Online” form. In less time than it takes you to warm up that vintage engine on a cold winter morning, our experts gather a few key facts on the phone. Once you provide some basic information about your car and where you are located, we’ll find a time that is convenient for you to schedule free, expert towing.
2. YOU Choose the Charity. We work with many great charities. Classic car donations support charities ranging from animal rescue to medical research to veterans. Too many great charities to choose from? No problem! You can simply ask us to choose a great charity for you — as 1 in 4 donors request. By the way, see what donors are saying about their experiences!
3. Use IRS Form 1098-C, which is your classic car donation tax deduction. Within 30 days of sale, we will mail you 2 copies: one for you and one for your accountant to file. The charity gets a copy of the same, so there is full transparency about the actual sale price.
Curious about what classic cars your friends and neighbors are donating? Here’s a list of our top 12 most popular classic car donation makes and models:
Whether you are donating a collectible automobile, a hot rod or a classic sports coupe, we understand that it means too much to you to simply sell it. Giving your muscle car or classic car to charity is a great way to support a cause you love. And now that you’ve found the place for the best classic car donation experience and tax deduction, we are at your service.
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