Stream of Knowledge

Follow these links to learn more about “Car for Cash” programs: The Effect of “Cash for Clunkers” Program on the Overall Fuel Economy of Purchased New Vehicles (PDF) : An educational analysis of the 2009 economic stimulus package focused on upselling new vehicles by exchanging junk cars for a trade-in credit off the sticker price of fuel efficient vehicles. Kelley Blue Book : A free resource guide providing estimates on all new and used vehicles based on their overall condition. Do You Know Where Your Junk Car Goes? (PDF) : A fact sheet about where junk cars go after they are bought, traded in, or reported from a financial institution. Corporate Raiders and Junk-Car Dealers: Economics and Politics of the Merger Controversy (PDF) : An abstract essay providing statistical data regarding the corporate takeover of the used car sales industry. Edmunds : Another free resource similar to Kelley Blue Book that allows you to appraise the value of your vehicle, also features tips and adv...

Most of us have been there: We have a “junk car" we can't, don't, or  won't  drive anymore, but we're not sure what to do with it. Rather than trying to pawn your car off on someone else for what little amount of “blue book" value it might have, consider the pros and cons of  charity car donation vs. getting cash for your car . Pros of Car Donation When you donate a car to charity, you can: Make a  charitable contribution to your community , or a community in need. Often  take advantage of tax deductions . Generally, the  charity must have a 501(c)(3 ) status or be a religious organization  in order for you to make a tax-deductible car donation. Ask the charity to see such documentation, or use the Internal Revenue Service's (IRS)  EO Select Check  to determine whether the charity has a 501(c)(3) status. Always work with a tax professional when it's time to file your tax deductions. Find ways to  make use of those “other...