1989 240DL Wagon in CT needs home

Why not donate it and take the tax break? It will most likely be worth just as much in a deduction as you could sell it for, plus you wouldn't have to worry about the liability of someone coming after you. These crazy $$ happy lawers these days.....I'm just north of you, I've given to these folks a few times. They give Teddy Bears to police and fire departments to give to children of domestic abuse, fire, tragedy etc.

The math isn't correct and the tax law changed. If you sell the car for $2,000 you get $2,000 in the pocket. Generally, if you donate the car you get to deduct the actual selling price realized by the charity, which may be less than what you can get selling outright. I've seen more than one charity that has not updated their website for this very important information. The only exception is that if the charity uses the car to "further it's specific purpose". In that case you can deduct the fair market value.

But more importantly a tax deduction only reduces taxable income. So, using the example above, if the charity sells the car for $2,000 you get to deduct $2,000 from taxable income on the 1040. If you are in the 25% tax bracket the only cash you will get will be a reduction of $500 in taxes paid next April.

I'm not trying to say don't donate cars. Just understand the financial value of a donation.

Hi,

I really like volvos.....wanna give it to me?

I can be up there this afternoon......

seriously,

how much?

reply to acapaldi---at---gmail---dot---com

thanks!

big al Roadie wrote:

What makes you think I have a car for sale. Please look at the thread.

surfbug wrote:

You need to reply to the original poster. They said they would give it away to someone who could use it locally.

Allen

Yes,

Read the original post ya dummy! And the donating for tax credit is lame, it would end up in the trash heap.

Ed

We have donated cars to our local public tv station and to at least one other cause (diabetes?) in the past. The tax break thing is a nice plus, but the best part is really that the organization will come to your house and tow away even a really junky car for free and you still get to feel like you're doing a good deed! This time we thought we'd try to find a real home for the Volvo because we think that someone who knows how to work on Volvos could probably do something with it... either fix it up & actually keep driving it or take parts off of it to give life to another vehicle.

Yeah if you donate it, it will probably wind up in a scrapyard. I'd be much more inclined to give it to someone who will fix it up but then that's just how I am.

but we'd

That is really cool. We had a similar thing happen to us when a bloke just came up to us in the market car park and saw we drove a volvo. He asked if we wanted another one for spares or repair. We were very gateful as now we have another one that needs repairs but it was well worth it and as we do not have loads of money to spare will work out great. He could have scrapped it but has had loads of new parts put on(turbo, CD player, battery radiator)and wanted it to go to someone who liked them and could use it. He had good service history and paper work all in order just had a new one and no room to store old one. Clare

Nice to hear about your great experience with a kind person.

I have a 89 wagon that my brother gave to me three years ago for the same reasons you are parting with your car, I learned on these forums how to repair volvos, I am familiar with the 89 model and my car is really declining. I would be happy to pay you some money for the car as well. Don

I hope I didn't offend you because I used the word 'buy' I really do love these volvos Don

why buy, its free...just don't be a jerk...

Hey Beancounter its about being nice, whats your point?

my point(s) are/is>>

Beancounter its about being nice, whats your point?

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interested and can be reached at 203-980-4614, I promise to give this car a good home Don