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Author: 0x6a74 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121150  
Subject: Re: Donate Car for Tax or Sell? Date: 9/12/2007 4:20 PM
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Since the charity isn't going to take a lot of time and effort to sell the car, they basically sell them on the wholesale market. So as a quick approximation, they'll sell for roughly the trade-in value of the car. That becomes your tax deduction.


it was my understanding they're generally sold at auction ... less than 'trade-in value'
( trade-in takes the car's actual condition into account; auction buyers assume something near on worst case )

and that some of the shadier 'Fundraisers' sell to 'friends' .. for even less than auction price


-j
..... donated a car under the old rules
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