Cash for Clunkers vs. Donating a Car – Which is Best for You?

Aug. 12, 2009 - PRLog -- To help consumers who are wrestling with the choice between donating a car or trading in on the Cash for Clunkers program, one charity organization steps forward to spell out the pros and cons of each.

In a table of clear comparisons displayed on its FAQ page, Cars 4 Causes®, the Charity that Gives to Charities® lists the differences and similarities for consumers (http://www.cars4causes.net/cash-for-clunkers.asp).  Some consumers will find that the Cash for Clunkers program (AKA the Car Allowance Rebate System, CARS) works out best financially for them. But for others, tax advantages of a vehicle donation will be the best choice.

“We created the table of comparisons – our Cash for Clunkers vs. Donating a Car table – in response to calls we were receiving from consumers ready to trade, or sell or donate a car and confused about which way to go,” says Pat Jessup,  president of Cars 4 Causes® (http://www.cars4causes.net).

The media blitz surrounding the Cash for Clunkers program has inspired many consumers to consider selling their old gas guzzlers and trading up. But not all of those old cars qualify for the program. And some car buyers prefer to buy used automobiles, while the federal program covers only new car purchases. “These are just two of the reasons for not going with the Cash for Clunkers program that people have talked to us about,” says Jessup.

In addition, she explains, some car owners, after talking with their accountants, have found that the tax advantages of donating a car outweigh the benefits to them of going with the government program.

“This is a personal, individual tax deduction decision,” adds Jessup. “That’s why we set up our comparison table on our FAQ page: when you see the Cash for Clunkers program side-by-side with the IRS qualifying tax deductions, you can better evaluate your own tax situation and where the financial advantages are for you.”

Cars 4 Causes® takes care of almost everything required in a car donation, from towing the vehicle to processing the paperwork to getting a check into the hands of the charity chosen by the car donor. With a full staff on hand to walk car donors through the donation process, Cars 4 Causes® is helping car donors get their tax deduction (http://www.cars4causes.net/car-donation-form.asp), and it’s also helping charities receive donations – a special boon for the charities in tough economic times.

When car donors make their donations through Cars 4 Causes®, they choose which charity will benefit. The list of qualifying organizations encompasses more than 13,400 charities, for causes ranging across the nation and the globe, and from local community projects to multi-national foundations.

Cars 4 Causes®, founded with the philanthropic mission of helping to fund youth education, has developed over the years into The Charity that Gives to Charities®, expanding beyond education and into one of the largest car donation charities in the country.  Cars 4 Causes®, "The Charity That Gives To Charities"® is a non-profit, IRS Code 501(c)(3) tax-exempt charity.

Cars 4 Causes® has been a trusted avenue for charity funding since 1997. Proceeds from tax-deductible donations of vehicles go to qualifying non-profits.

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