I've got a old clunker I need to get rid of...should I sell it to a private party or donate to a junk yard?

Question

It's a 1988 Nissan 200sx w/ some problems. It needs a new starter for one and it needs to pass the smog check. Other than that it runs good but, to fix it, would be more than what I originally paid. I wondered if it would be better to sell it to a private party that has the resources to fix it or just donate it to a junk yard and claim in on my taxes next year. What to do...what to do...

Answer 1

don't donate it to a junk yard - there are non profit organizations that will take the car from you (paying for the towing if need be) and fix it up to give to the underprivilaged. These are also tax-deductable, but should give you warm fuzzies as well!

Answer 2

You don't get a tax deduction for "donating" a car to a junk yard! Where did you EVER get THAT idea!??

Most non-profits will no longer accept a junker as a charitable donation. The rules have been tightened up substantially. They must give you a letter that states how much they sold the vehicle for. That amount is ALL that you can deduct if you itemize deductions.

If it needs to be towed, the towing charge will equal or even exceed the junk value of it so there's no incentive for them to accept it and in fact, most won't accept it.

Answer 3

Donate!!! you'll help improve the self self belief of a few youthful female or female who can't discover the money for to do it themselves. In the type of materialistic international the position some human beings decide others depending upon visual charm... you'd be assisting someone upward push up... and they are going to likely delight in that previous gown or blouse more advantageous than you would possibly want to. and also you get the tax reciept? each and anybody wins!

Answer 4

If you can sell it, then sell it. They have tightened up the laws on giving for taxes.

Answer 5

Sell it for parts.