Donating Honda Pilot car

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rramaswa
Posts: 31
Joined: Thu Feb 04, 2021 6:08 pm

Donating Honda Pilot car

Post by rramaswa »

Hello Bogleheads,

If I donate old Honda Pilot 2003 what are the Tax benefits?
This car is in reasonably good condition with 150K miles. It does require some major immediate repairs .
My car garage told me it is not worth fixing the repairs.
Someone can fix it use it for many years. These cars run almost 250K miles.

I want to get something back for this car. I am not good at selling and not comfortable having strangers near my home to check on the car.

I have found this forum very helpful!
Thanks
Doctor Rhythm
Posts: 903
Joined: Mon Jan 22, 2018 3:55 am

Re: Donating Honda Pilot car

Post by Doctor Rhythm »

Main question is whether you itemize your deductions or take the standard deduction. If you don’t itemize, there’s no tax advantage. Ignoring the altruistic goals, financially you’re probably better off trading it in rather than donating it.
exigent
Posts: 1111
Joined: Fri May 07, 2010 8:49 am

Re: Donating Honda Pilot car

Post by exigent »

Below is a link to an article from TurboTax/Intuit on this topic:

https://turbotax.intuit.com/tax-tips/ch ... /L4NnMuKQM

It describes how to value it, how to claim the deduction, and the forms you need to complete.

Hope it helps.
newyorker
Posts: 481
Joined: Sun May 17, 2020 7:59 am

Re: Donating Honda Pilot car

Post by newyorker »

Better to sell it to carmax for financial reasons. Better off for everyone as we can hear less of that annoying car donation jingle on radio stations. 😃
flyingcows
Posts: 276
Joined: Sat Apr 20, 2019 8:13 am

Re: Donating Honda Pilot car

Post by flyingcows »

Carmax might be an easy way to unload it, otherwise there are charities which will tow it away.

Whatever you do, never sell a cheap car private party.
lakpr
Posts: 7715
Joined: Fri Mar 18, 2011 9:59 am

Re: Donating Honda Pilot car

Post by lakpr »

I unloaded my 2004 Hondy Odyssey by calling Kars For Kids, and they sent a tow truck to my home. Left the car in the street instead of my driveway ... the only interaction I had was to sign the title papers in front of the guy taking delivery of the car, and it was towed away.

A month later I got a receipt saying my car was auctioned off for $425, and that's the amount I can claim on my taxes. [ Well, useless for me since I use standard deduction and do not itemize ]
Misenplace
Moderator
Posts: 3305
Joined: Mon Feb 01, 2016 9:46 pm

Re: Donating Honda Pilot car

Post by Misenplace »

This topic has been moved to the Personal Finance (Not Investing) forum (tax issues).

Moderator Misenplace
manuvns
Posts: 960
Joined: Wed Jan 02, 2008 2:30 pm

Re: Donating Honda Pilot car

Post by manuvns »

list it for 1-2k and see what happens
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Watty
Posts: 22696
Joined: Wed Oct 10, 2007 3:55 pm

Re: Donating Honda Pilot car

Post by Watty »

You local public radio or TV station likely has a car donation link on their web site.

You may want to avoid the Kars4Kids charity with the obnoxious radio ads. They not only spend a lot on advertising and administrative expenses, about 47%, but in their ads they do not disclose that most of the "for kids" money is spent on activities like summer camps getting kids involved in a orthodox version of a religion, which is fine if that is what you want to support but it would be good if they made their objectives clearer.

https://www.charitynavigator.org/index. ... rgid=11555
jsapiandante
Posts: 198
Joined: Thu Jul 30, 2015 5:58 pm

Re: Donating Honda Pilot car

Post by jsapiandante »

We recently donated my wife’s 2000 Toyota Camry to kars4kids in good condition and 120k miles. They came in about 1 week and took it from our driveway. We lost the pink slip some years back but they took care of the paperwork for us. We received about close to $1500 to go towards our tax deduction since we itemize.

I’d do it again in a heartbeat as it was a breeze.
WAROB
Posts: 17
Joined: Fri Jan 22, 2021 12:13 pm

Re: Donating Honda Pilot car

Post by WAROB »

Sell it and donate the proceeds to the charity of your choice. You’ll likely receive a larger deduction that way. If you don’t want to facilitate a private sale as you described just drive it to your local Carmax or Honda dealer. As you have heard the used car market is hot and everyone is hurting for inventory. Don’t take less than 2k
calwatch
Posts: 344
Joined: Wed Oct 02, 2013 1:48 am

Re: Donating Honda Pilot car

Post by calwatch »

If you are still planning to donate, donate it to a charity which will use the car or give the car to a needy person. These would be Charity Motors, Good News Garage, Vehicles for Change, Cars 4 Christmas, etc. Call them first to tell them the condition of the car and maybe send a few photos. Usually they are looking for cars with at least a few years of life on them, non-luxury, and able to be fixed fairly easily. You would be able to maximize your deduction this way.
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sunny_socal
Posts: 2395
Joined: Tue Mar 24, 2015 4:22 pm

Re: Donating Honda Pilot car

Post by sunny_socal »

Sell for 5k, private party. Simply disclose what "repairs" you anticipate. Then donate if you wish.

I just sold a Honda Accord that I'd crashed (and repaired) twice, for 12k. Yours should be an easy sell.
newyorker
Posts: 481
Joined: Sun May 17, 2020 7:59 am

Re: Donating Honda Pilot car

Post by newyorker »

Watty wrote: Wed Jun 09, 2021 10:32 pm You local public radio or TV station likely has a car donation link on their web site.

You may want to avoid the Kars4Kids charity with the obnoxious radio ads. They not only spend a lot on advertising and administrative expenses, about 47%, but in their ads they do not disclose that most of the "for kids" money is spent on activities like summer camps getting kids involved in a orthodox version of a religion, which is fine if that is what you want to support but it would be good if they made their objectives clearer.

https://www.charitynavigator.org/index. ... rgid=11555

+1



That jingle makes me puke 🤮
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