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Q.
Why should I give my car to the GNG and not to one of the other charities
requsting car donations?
The
GNG provides the donated cars to people who have done through a screening
process to verify that they need a car in order to work and gain economic
self-sufficiency. Other charities pass donated cars along to wholesalers
to sell them for parts and use those profits to support other charitable
work.
Q.
How do I know that my car will be accepted by GNG?
We
accept most cars. Call us! 303-296-2990
Q.
How much will I be able to deduct from my taxes?
If
you plan to deduct over $500, you will be allowed a deduction in the gross
selling price of the vehicle. If your vehicle is used in the GNG
car placement program, you may deduct fair market value. Upon transfer
of your donatiion, you will receive a receipt, and an envelope will be
sent to you within 30 days of the sale or program determination.
This envelope will contain all the required IRS information and forms.
Q.
How do I determine the market value of my car?
Go
to www.nada.com or www.kellybluebook.com to find out how much your car
is worth. Then, make a realistic assessment of the repairs you know
should be made to your car to make it safe and drivable for a new owner.
Your own mechanic might help you with this.
Q.
What if my car is worth $5,000 or more?
Vehicles
of greater value must be appraised by a dealership and IRS Form 8282 must
be filled out by the dealer.
Q.
Will the IRS honor the entire amount of vehicle's valuation?
Yes,
in all probability the IRS will accept a reasonable valuation. However,
if you have questions about establishing a value for your car, we suggest
that you consult your tax advisor and Form 8282 "Noncash Charitable
Contributions? and Publication 561 "Determining the Value of Donated
Property".
Q.
Why is now a good time to donate my vehicle?
Recently
many car donors have told us that new and used car dealers are passing
up on trade-ins because the market is now flooded with used cars, mostly
leased vehicles being returned to dealers for sale.
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