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I firmly believe donating to Goodwill or such and writing off on taxes gives me better deal
2. as far as I know, most of those cars, instead of scrap yards, actually end in public auctions. Or, are sold for parts at salvage yards. Seats average $300 off such yard; doors about same; so on and so on.
That's another reason I am not supporting them, I do not like feeding traders with extra $$.
While I agree that, based on the examples posted, Peddle.com is probably not the best way to dispose of a junk car (most salvage yards will pay upwards of $300 these days), I disagree that many people will be better off financially by donating a junker.
For example, if a donated car is valued at $1000 and the marginal tax rate is 25%, the tax deduction would be $250. A scrap yard should give more than that.
Not saying there aren't times when a donation works out better; sometimes the allowed values are unreasonably high, and of course some people have much higher marginal tax rates (although it's unlikely anyone in one of those tax brackets would keep a car until it became a junker). And it's a good way to support a charity, or course.
But many people are of the mistaken impression that a donation acts as a credit rather than a deduction (in other words they think that if the organization values it at $1000 they get to add $1000 to their refund, or subtract it from their tax bill) and some don't realize that they have to itemize to take the deduction (only 35% of tax filers itemize), so I thought I'd mention it.
I have an 06 dodge magnum with a cracked head... its got about 170,000 miles on it, the blue book value I checked is far less than what its going to cost me to fix this car... It has been nickel and diming me in repairs for the last 2 years... I am ready to just get rid of it... I got an offer of $850 from peddle.com Everyone is saying don't go this route..my car is in nice shape blah blah blah..but honestly I am just so fed up with the repairs, I literally don't have another cent to spare trying to fix it.... im just afraid that if I go with peddle.com ill sign my title over and they might give me some check that will bounce... any words of advice???
This company started years ago in CT and used to be called junkmycar.com. They moved to Austin and changed to Peddle.com. They are indeed a legit company. I knew many people who worked for them.
My 2000 Toyota Camry was well taken care of for 15 years and in excellent shape but the water pump went and the engine died. I had no idea how much it was worth so I went on Peddle.com and put all of the information in about my car. The site said if I wanted to sell it immediately I could get around $300 and if I wanted to wait two weeks I may get around $600 but I did not want to even list it for this lowball offer and there were no other options to list it on that site for higher. I listed it for $1000 OBO on CraigsList.org thinking it wasn't worth much, per Peddle.com. The first caller offered $1000 without seeing it but could not come get it for a week. The next person came to see it that night and offered $1000 so I accepted right then. I called the first person back to tell him it was sold he said it was probably worth $1500-$2000. Peddle.com added salt to the wound by sending another email and said they increased their offer to $1700. If you don't want any money for your vehicle go to Peddle.com for a LOWBALL offer otherwise find out how much it is really worth somewhere else and sell it on Craigslist.org! Please learn from my $500-$1000 mistake and avoid Peddle!
But many people are of the mistaken impression that a donation acts as a credit rather than a deduction (in other words they think that if the organization values it at $1000 they get to add $1000 to their refund, or subtract it from their tax bill) and some don't realize that they have to itemize to take the deduction (only 35% of tax filers itemize), so I thought I'd mention it.
It used to go by value. Now they actually have to sell it for $1000 for you to get the deduction. I don’t know how you are going to find out and how long it takes.
^Isn't the real lesson from your story is that sellers should check KBB or Edmonds before selling on Craigslist?
The real lesson is that his car was worth what someone actually showed up and gave him cash for. Not what some guy told him on the phone he might have gotten had he waited another week.
TITLE this comp is a tootle scam they get cars from free and sell them to tow Comp they send to to pick up cars and don't stand behind you at all they play Judge Jury and prosecutor at the same time just a Bunch off fool behind a desk that know nothing about the real world they SCAM you to the end they offer you 80.00 for a car and sell it to tow mom for 450.00
do typical TX COM just like uship all CRAP
Has anyone used Peddle.com to unload an old car? They gave me a quote on-line, based on a few simple questions, and then tell me they will have a local merchant contact me to arrange a time to pick up the car and give me the money.
I haven't pulled the trigger yet, but wondering if anyone has any feedback? TYVM
If it’s running rule of thumb is It’s worth at least 800/1000 bucks. You can probably get $500 for it as a parts car.
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John
