If you have a car that you don't use anymore or that has fallen into disrepair over the last few years, you may have considered fixing it up yourself or selling it to a third party. While these options are probably the most common ways of getting rid of an unwanted car, there are plenty of other alternative choices available. For instance, donating your car to a local trade school could be more beneficial than you think. If you're interested in learning more about these various benefits, keep reading below to discover just three of them.
Assisting Young Professionals
When you donate your car to a trade school, what you're doing first and foremost is helping young professionals gain valuable training and experience in their chosen field. In fact, many trade schools rely entirely on donations of vehicles for their various projects. So you can feel good knowing that you've contributed in a significant way to the professional growth of aspiring mechanics.
Trade schools don't just take apart the cars people donate; they refurbish and restore them -- in many cases, making them look like new. Most of these refurbished cars are sold at an auction or to third parties in order to help continue funding the trade school. However, many schools partner with local charities to provide vehicles to those in need. So if you're planning on donating your car, contact a trade school near you to find out if they participate in these kinds of programs, and request that your car be given to charity after it's refurbished.
Many people would rather donate directly to a charity rather than a trade school because they believe that if they do so, it will much easier to write off the fair market value of their vehicle on their taxes. But in the past decade, this has become much harder to do -- not only must you itemize your deductions, but you must find a charity that qualifies (specifically, one that has filed as a 501(c)(3)). The one exception to this rule is non-profit religious organizations, who are not forced to file as a 501(c)(3). So do some searching online for trade schools that are affiliated with a religious organization such as a church or temple. They're more common than you might think, and may qualify your donation for a significant deduction based on your tax bracket.
For more information, contact a school like Newgate School.Share