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SOLD
Posted: Mon Nov 18, 2013 12:13 pm
by schufflerbot
SOLD
Re: WTT: 2001 Ford Focus $2,500 trade value!!
Posted: Wed Nov 20, 2013 1:54 pm
by schufflerbot
trade value dropped to $2,500! have no need for this thing and want it out of my driveway ASAP!
Re: WTT: 2001 Ford Focus $2,500 trade value!!
Posted: Wed Nov 20, 2013 11:16 pm
by psijac
Could you donate this car to a church or charity then use the tax write off to buy more guns? Is there a CPA in the house?
Re: WTT: 2001 Ford Focus $2,500 trade value!!
Posted: Wed Nov 20, 2013 11:33 pm
by jmra
psijac wrote:Could you donate this car to a church or charity then use the tax write off to buy more guns? Is there a CPA in the house?
From what I understand it doesn't work very well anymore. I believe you can donate to a charity and receive fair market donation value for the vehicle as long as the charity keeps the vehicle for a specified amount of time (several years). If the charity sells the vehicle before that time expires your donation value is adjusted to the actual amount the charity received. Most charities flip cars for a fraction of the fair market value in order to turn it into cash quickly. This coupled with the fact that the donation simply reduces your adjusted taxable income, most people will only see about 20% of the donation value in actual cash which makes this a pretty poor option for those seeking funds in exchange for the vehicle.
Please note that I am not a CPA and this info could be far from accurate in an era of ever changing tax codes.
http://www.charitywatch.org/articles/car.html
Re: WTT: 2001 Ford Focus $2,500 trade value!!
Posted: Thu Nov 21, 2013 8:32 am
by schufflerbot
JMRA, that's essentially what i've discovered as well. i researched the option and found that, while generous, doesn't yield a return worth my time and effort.
Re: WTT: 2001 Ford Focus $2,500 trade value!!
Posted: Thu Nov 21, 2013 9:56 am
by cohiba550
Nice little starter car. My niece is looking for her first car, this might be it.
Sent the info to my Sister, hope to hear back today if she's interested.
If I remember right aren't you on the north side ?
Re: WTT: 2001 Ford Focus $2,500 trade value!!
Posted: Thu Nov 21, 2013 10:06 am
by schufflerbot
cohiba550 wrote:Nice little starter car. My niece is looking for her first car, this might be it.
Sent the info to my Sister, hope to hear back today if she's interested.
If I remember right aren't you on the north side ?
i live in spring as well, 2920 near rhodes road.
i have someone wanting to see the car today so ya better hurry!
Re: WTT: 2001 Ford Focus $2,500 trade value!!
Posted: Thu Nov 21, 2013 10:13 am
by cohiba550
Knowing my sister I'm sure she will miss out on the opportunity.........too much of a procrastinator!