Friday, September 30, 2016

Car Donation: Protect Yourself

If you are thinking about making a car donation to a charity that serves needy individuals in your community, you have a good heart and great intentions.  Sadly, there are people out there who will take advantage of your kindness.  This has become particularly true in the last few years as car donation charities Madison have become more numerous and popular.  Being a fully informed donor will help you make sure your donation is supporting the cause you want to support.  It will also let you avoid potential problems and legal issues that could be time consuming and expensive to correct.

Car Donation Madison:  Things to Know
  • Not all vehicle donation agencies you will find on the Internet are actually charities.  With the growing popularity of in-kind donations, a number of for-profit intermediary business have sprung up.  These businesses may take more than half of the value of your donated vehicle just to pick it up, sell it, and forward a small percentage of your donation to an actual charity.  These agencies are also more likely to leave you with legal problems around the title of your donated vehicle.

  • When donating a vehicle, make sure you have the title ready to transfer at or before the time of delivery or pick-up.  Know the exact name of the individual or agency to whom you will transfer the title.  Then, check with the title bureau a few days later to make sure the transfer has actually happened.  As long as the title remains in your name, you may be responsible for any parking tickets the vehicle receives.  You could even be held liable if the car is involved in an accident.

  • Maintain insurance on your vehicle until you are certain that the title has been transferred to the designated individual or agency.  The best course of action is to ask to have the title transfer take place before you physically release the car from your control.  If it is involved in a serious accident and still titled in your name, the amount of damages for which you might be held liable could reach into the hundreds of thousands of dollars.

No comments:

Post a Comment