Frequently Asked Questions
Why should I donate my vehicle
instead of sell?
Today's car market is flooded with used cars which has depressed prices
and decreased trade in value for used cars. Donating a car to
the Good Neighbor Garage provides tax saving and a warm-fuzzy feeling
for directly impacting a life in the Denver community with a car.
Why should I donate to the GNG
and not to another organization accepting car donations?
Cars
donated to the GNG directly impact lives in the Denver community through
our repair and car placement program. Disadvantaged individuals
that qualify for our program will receive one of our cars to help
them better support their family through work. Many other charities
wholesale the car to other dealers or salvage the car and sell the
parts to support the nonprofit's charitable activities.
How do I determine the market
value of my car?
Visit the websites for NADA, Kelley Blue Book and Edmunds websites
to start the process of determining the value of your car. Subtract
out the cost of repairs to make the car safe to obtain an estimate
of the cars value. For additional assistance, you might want to consult
a tax accountant or read IRS Form 8283, "Noncash Charitable Contributions"
and Publication 561, "Determining the Value of Donated Property."
What if my car is worth $5,000
or more?
A car with a value greater than $5000 must be appraised by a dealership
that fills out IRS Form 8282.
If you still have additional
questions, call Marc Veldhuizen at 720-941-5897 or email us at marc@goodneighborgarage.com.
