Car Donation!?

Question

My car is over 11 years old 1995 Mazda mx3. I do not have the title and unable to pay off balance. Who can I donate the car to. And will the donation center pay off the car balance?

Answer 1

If you are still making payments on the car, then the finance company holds the title until it has been paid in full. They are considered the owners of the vehicle, and so you will not be able to obtain a copy of the title from your motor vehicle office.

Since you do not yet own the car, you also will not be able to sell or donate it. If you want to trade it in for a different vehicle, the finance officer should be able to arrange the transfer of the title, but any unpaid amount will be deducted from the value of your trade.

Answer 2

My mantra is "Sharing Makes Us Happier!" but if you have not enough to pay off the balance you might should consider to sell the car to a dealer, pay off your balance and donate the remaining funds.

Thanks for helping others!

Tarsha
It's Official: Sharing Makes Us Happier!

Answer 3

No, a donation center will not pay off the balance. But there are lots of places that will take a donated car, from Salvation Army to Mother Hubbard, but you can't expect a non-profit to pay off your car loan. And if you don't have a title, you can't claim it on your taxes as you have no proof of ownership (unless the vehicle is registered in your name)

Answer 4

If you live in NY I know that the Long Island Crisis Center takes Car Donations. Do a search for them on Yahoo! and you can call them up and they'll arrange for the pick-up. I am not sure about the balance questions. Most donation places are non-profit organizations but you can ask them when you call. :)

Answer 5

I think the car needs to be payed off and you have to have the title to donate it. I donated a 95 Honda Civic, with the title though.

Answer 6

no longer basically is it unlawful...it may get the accountant a hefty fantastic and in all likelihood barred from commercially submitting taxes sooner or later. to boot, the belief would not make any sense. A deduction is purely pennies on a dollar. It would not make sense to spend a dollar to shop on the main 40 8 cents. Now in case you like a legal suggestion. Take that $500 and purchase some kit which will make you greater useful at your occupation. you would be waiting to offset that against the gross earnings to have a smaller internet earnings. this will additionally cut back the quantity of self employment tax which you're able to desire to pay. in spite of the indisputable fact that, this basically works in case you decide on the kit...it continues to be pennies on the dollar. a greater useful concept is positioned it right into a retirement fund. Now what form of fund is a very diverse question. It relies upon on your situation. wish this facilitates.

Answer 7

No. you are still liable for the balance remaining on the loan.

You must sell it, pay back the loan, and keep the remainder.

By the way, go to the DMV (or MVD) and get a replacement title. as long as the car is in your name that should be no problem.

Answer 8

You have to evaluate if your tax break is enough to offset the balance that you have to pay on the car.

Answer 9

Instead of donating it....pawn it and then when they get it, they have to pay the balance. or sell it, for at least a couple hundred more, so you can get something out of it.

Answer 10

you can donate the car to anyone you wish but it will not pay off the note