Wheel charity: fair market value is out, while the actual sale price is in for setting car-donation write-offs.(Personal Finance)

Entrepreneur | February 1, 2005| | Copyright

CLEARING YOUR OLD CAR OUT OF THE garage to make room for the latest and greatest wheels on the block can be a serious hassle. You have to pay for an advertisement, wait for strangers to call, haggle over the price and, assuming you sell the car, pray that the buyer doesn't call back claiming it immediately broke down. Sometimes it's easier to trade the vehicle in or, as three-quarters of a million Americans do every year, donate the ol' hunk of junk to charity.

Donating has its advantages. It's simple, since many charities offer pickup services; it makes you feel ...

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