The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Donate Car for Tax or Sell?||Date: 9/13/2007 9:51 AM|
|Author: fktNM||Number: 95843 of 121338|
Thanks to everyone for all of the great advice!
Kathleen, I did look at the repair costs and if it were a Toyota or Honda I think I would have more faith in the repairs being worthwhile. As it is, my Ford Contour has already taken a steady amount from my wallet on a yearly basis for repairs and I believe this will continue. Your point is well taken though.
From a financial perspective it seems that selling outright is definitely the way to go. Thanks for clarifying this.
Peter, thanks for your insight into the Commercial Fundraiser System. I do make donations each year to certain charities and I am glad you enlightened me about this process.
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