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What to do with vehicles with over 200,000 miles.


Stampede

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Unless it has changed (again), if you donate a car, the write off is whatever the charity gets for it. This changed many years ago. I frequented the VOA Auto Auction and they would run 40-60+ cars every week and would run a second mid week auction around tax time due to numerous donations. They would also hold back special interest vehicles for a "best of the best" auction once or twice a year. People could write off NADA value for their deduction. Apparently the government decided they were loosing too much money helping charities and made change to where the charity had to tell you how much they sold the vehicle for and that was your "fair market value" write off.

 

VOA now has an auction every other week with 20-30 vehicles, no "best of the best" and not enough surge in donations for a mid week auction. Check your tax laws, your results may vary....

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Trade in value on a 2wd equinox with 200,000 miles is $825 in good condition. Clean retail is $2900. You will probably get somewhere in the middle. Not much price difference for AWD.

 

Equinox is a very bad word on our car lot. We don't say it often.

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