MAKE A DIFFERENCE TO A DISABLED VETERAN
DONATE YOUR CAR TODAYQuestions about Vehicle Donations
1.What kind of vehicles can I donate?
If it’s a vehicle, you can donate it! You can donate cars, trucks, vans, RV’s, motorcycles, boats, ATV’s, and more.
2.What paperwork do I need for my donation?
Most of the time all you need is a signed title, but if you have any questions or concerns please contact our donor service department at 844-440-2472
3.Do I get a tax deduction for my donation?
Absolutely! If you itemize your tax return, your car donation to Honor Bound Foundation, Inc. an IRS approved 501(c)(3) charity, is still tax deductible.
4.How do you determine the value of my donation?
For vehicles sold for $500 or less, you can claim the fair market value up to $500 without any additional paperwork. The preliminary tax receipt with the final sales price of your vehicle will be mailed within 5 days after the vehicle has been picked up.
If the gross proceeds from the sale of your donated vehicle exceed $500, your deduction will be limited to the actual sale price. You may deduct the sale price of your donated vehicle or the fair market value up to $500, whichever is greater. To get your deduction you must file an itemized return and provide your Social Security # and IRS form W-9.
You can find more information on charitable vehicle donation tax deductions at http://www.irs.gov/charities.5.What percent of the proceeds does the charity receive?
The ultimate sales price of your vehicle depends on many factors including the type and condition of the vehicle as well as the mileage. In addition, there are expenses involved in generating the sales proceeds from your vehicle. These include the costs of towing, auction and administrative fees, and advertising expenses, which affect the proceeds generated from a vehicle donation. Depending on the sale value of vehicles sold at auction, Honor Bound Foundation will receive a minimum of 55 percent of the net proceeds. With fixed costs of towing, auction and administrative fees, higher value vehicles will generate a more favorable return to Honor Bound. Currently, Honor Bound does receive a large amount of scrap vehicles that must be recycled. If a non-running scrap vehicle is donated, minimum fixed costs will ultimately lower the proceeds Honor Bound receives.
6.My car doesn’t run and is in bad condition, can I still donate?
Absolutely! We take almost any vehicle from almost any location. To find out if we can accept your vehicle, please call 844-320-5356.
7.When I donate a vehicle do I get a receipt?
Yes, we will handle all transfer documents, IRS receipts and information. You will be mailed a receipt for tax deduction purposes about 5 days after your vehicle is picked up.
Questions about Vehicle Towing and Sale
1.How do you pick up my vehicle?
It’s easy! At no cost to you, we’ll arrange to tow your vehicle when it’s convenient for you from a location of your choice.
2.Who picks up my vehicle?
A professional vehicle transportation company will tow your vehicle.
3.How soon will you tow my car after I donate it?
Typically, your vehicle will be transported in 1-2 business days, but it can vary depending on the location of your vehicle.
4.Does my vehicle have to be picked up at my home?
No, we are happy to pick up your vehicle from almost any location.
5.Can you pick up my vehicle when I’m not there?
Absolutely! Most of the time you do not have to be present when your vehicle is picked up.
Questions about Titles and Registration
1.What paperwork do I need to donate my vehicle?
Vehicle donation paperwork varies by state. Most of the time all you need is a signed title, but if you have questions please contact our donor service department at 844-440-2472.
2.Can I still donate if I don’t have a title?
We can help you get a replacement title; just call our donor service department at 844-440-2472.
3.What if the vehicle is not registered in my name?
The vehicle does not have to be registered in the donor’s name. However, the person whose name is on the title must sign the title and fill out our additional paperwork.
4.There are two people listed on the title, do both of us need to sign?
If more than one person is listed as an owner on the front of the title, they must also sign on the signature of seller line.
5.The title is in a deceased person’s name. How do I complete the transfer of title?
Most states require a death certificate, the title, and the executor of rights paperwork. Please give us a call if you have any further questions regarding the laws in your state.
6.Can I donate if my registration is expired?
In most cases, yes you can. But registration requirements vary by state. Give us a call at 844-440-2472 for more information.
7.Can I donate my car if it failed an emissions test?
Yes, we will take vehicles without a current emissions test.
8.Do I need to have insurance to donate my car?
At the time your vehicle is picked up, you are no longer liable and can remove insurance coverage.