December 7, 2007, Newsletter Issue #20: Junk Car Charity Donations - What's In It For Me?
Tip of the Week
When you decide to donate your junked car to charity, you're helping people in need and protecting the environment from unnecessary hazards. You'll be thrilled to know that there are companies that provide free junk car pickup services and will happily donate your used car to charity. You will not receive any cash for your vehicle once you've decided to have it towed or donated to charity. It doesn't matter what the book value of the car is, you won't be reimbursed that money. However, you will receive a tax receipt for your donation, which you can bring to your insurance company to prove that you're no longer in ownership of the vehicle. That means you no longer have to pay for liability insurance.
It doesn’t matter where you live, you can have your car towed away to a junkyard. The important thing is to contact a reputable company. They can assist with any questions you may have. It’s important to know that you’ll need to have the title and registration to your car or the company won’t be able to tow it away. Just leave it in the glove compartment if you’re not going to be home.
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