In the world where planned obsolescence has become the norm, replacing a functional old car with a new one may seem like an irresponsible waste of money.
However, you can splurge on a new car without feeling guilty or coming across as a materialistic person by simply opting for a make a wish car donation with a non-profit organization like Wheels for Wishes (Make A Wish Foundation).
If you find it difficult to donate cash to charities but still want to do your bit for those in need, you can choose to donate your car to Wheels for Wishes. As the name suggests, the organization sells donated cars and uses the money to finance wishes of children who are diagnosed with life-threatening ailments and conditions.
The next time you hear about an ill child who played with his favorite baseball team, had a great time visiting Disney Land, or traveled to his favorite foreign destination, you can take pride at the fact that you decision to donate your car may have made all the difference.
For starters, you can proceed ahead with the donation without having to worry about the credibility and authenticity of the organization. The last thing you want is for your donation to be squandered on frivolous and unnecessary expenses.
The organization clearly explains how the make a wish car donation works along with a rough estimate of the final amount that is donated towards charity. The fact that you have a clear idea of exactly how much you are contributing to charity by donating your car to Wheels for Wishes makes it a trustworthy and credible option.
Of course, you always have the option of selling the car yourself and donating the entire sale value to charity. However, selling a car can be a time-consuming and expensive affair. Further, you can never be sure that you have got the right value for your old car. Considering these factors, make a wish car donation ensures your good intentions gets converted into real charity.
Apart from helping you earn some good karma, make a wish car donation can help you enjoy a tax deduction as well. Currently, the IRS allows you to deduct 100% of the sale value of the donated vehicle from your taxable income.
If the donated car is sold for $500 or a lower value, then you can deduct the sale value or the car’s fair market value, whichever is lower, from your taxable income. If the sale price of the vehicle exceeds $500, then you can claim the entire amount as a deduction.
It is interesting to note that the sale of a car, which is an income that would have otherwise resulted in an increase in the tax liability, results in greater tax savings if you opt for a make a wish car donation.
Further, Wheels for Wishes car donation helps you avoid spending money on maintenance, repairs, advertising, inspections, and other unavoidable tasks involved in the sale of an old car. Just schedule the appointment for your car’s towing, wait for the receipt indicating the sale value of your car, and feel good about having made an ill child very happy.
Donating your car to a firm like Wheels for Wishes will result in many other benefits like:
If you make regular donations to charitable organizations, then donating your car can help sick children without reducing or avoiding your existing obligations. This interesting and unique method of helping others can help you convey the importance of giving and charity to your children.
Charity is an act that is beneficial for all involved—the donor, the receiver, and all others participating in the transaction. Treat yourself to a new car and help an ailing child enjoy the best day of his or her life.