Date : March 7th, 2010Category : UncategorizedAuthor : Editor
I have a car that would be great as a mechanics fixer, and since it would cost more to fix it than the value of the car– we bought one new. Now how is the best way to sell it? I only want the fair price, and I have found donating it wont benefit me. (would rather give cash than junk car)
The car is a mazda 626, 97, 142000 miles, and in rough but running condition. It needs work on the cadalitic converter about 1000, and CVboots at about 700.
Tags : carsforcash, Ever, placeExperience, Sold, Type
Date : March 6th, 2010Category : UncategorizedAuthor : Editor
where did the other $20 K per car go?
Is this typical of Govt. budget over-runs?
Who got that money?
Tags : 'cash, $24K, $3000, $4500, Campaign, Clunkers', during, Given, Gov., Sold, spent
Date : February 8th, 2010Category : Car Donations in CaliforniaAuthor : Editor
We recently sold a car as a “parts car”, being honest–we had a clear title, it was an old car with the frame rusted through. The buyer came with a tow device, and said he wanted to buy the car as a donor car for another car he had.
The first red flag was, he said he was a notary, and notarized the title himself. We don’t know if he filled in his name on the title–we had never sold a car this way.
Anyway, he bought the car (for very little money), and I called the DMV being nervous about the damaged frame–they told me I could be held liable if this guy sells the car to be on the road, and I should get a copy of the title and junk it, to protect myself and others.
When I called the guy, he said he thought the damage wasn’t that severe and wanted to repair the car (it’s a uniframe, 15 yr old car, the frame shop told us it couldn’t be made safe by welding the frame–a new frame would cost far more than the car is worth).
This car shouldn’t be on the road–what do we do now?
Tags : Damage, Frame, Mess, Sold, title
Date : September 8th, 2009Category : Car Donations in CaliforniaAuthor : Editor
We recently donated a car with a private sale FMV of around $1700. The charity (Special Olympics) sent a 3rd-party shop to pick up the car; they gave us a ‘provisional’ receipt (Form1098) for $500, and told us that they would send us the adjusted one once the car sells. We just found out from them that they have decided to sell the car “for parts”, and they claim that this means we cannot deduct any more than the value of $500 already on the temporary 1098 which they gave us when they picked the car up.
Is this correct? I have looked at the IRS publication 526, and cannot find any special rules governing value in a “for parts” sale. We are feeling very screwed at this point — the shop has our car and title, and we’re only getting the deduction of $500 (which translates to probably $200 in our pockets). We feel like the car has essentially been stolen from us.
Is the only solution here to never donate a car? Anyone else have any similar experience? Advice? Thanks.
Tags : Charity, Deduction, Donation, Parts, Sold
