Every now and then we receive a really cool car donation that makes a huge impact for our charity partners. Recently, we processed a 1999 Porsche 911 6- cylinder from a generous donor in Florida.This beautiful car had just over 33,000 miles and was well cared for. Porsche lovers will recognize the 1999 model – code name 996 – as the first new body redesign since the Porsche 911 debuted in 1963.
Curious about what motivates someone to donate a high value luxury car, I reached out to the donor, Carl, who was more than happy to share his story.
Should I Sell or Donate My Car?
Carl told me that his original plan was to sell the vehicle and donate the proceeds to charity. He had his Porsche 911 appraised by an exotic and high end specialist to get a sense of its value. He then solicited several dealer offers, but the offers weren’t anywhere in the ballpark.
So Carl decided to donate instead, saying, “Time is money, at this stage in my life I realize I don’t have the time or energy to deal with buyers coming and looking at the car.”
What Charity Should I Donate to?
First, Carl needed to find a charity to support. He researched several charities looking for a well-run organization with low overhead, with a focus on hunger and homelessness. Carl eventually landed on Feed My Starving Children (FMSC), a nonprofit working to eliminate childhood hunger and malnutrition around the world. When asked why he chose the organization, Carl said, “Hunger has been a big issue for me. People who are on the streets and have no food to eat… it makes me angry… it doesn’t make any sense.” Carl is a first-time donor to FMSC, but the organization’s mission and low overhead operation align with his donation goals.
What Car Donation Company Should I Work With?
Carl’s next step was to research car donation companies. He spoke with several vendors and learned that donated vehicles are often sold through salvage auctions. Car donation vendors typically charge a 20-30% processing fee to the charity, calculated based on the net sales price. As a savvy luxury car owner, Carl was rightfully concerned. He knew the car’s value and wanted to work with a vendor with low fees that could generate high value for FMSC.
Advanced Remarketing Services (ARS) was the third company Carl contacted. “I again asked, who does it at the best cost? Your company [ARS] was the best cost out there.”
Back of Porsche 911 that was donated to Feed My Starving Children
ARS Returns over 90% of Net to Charity
ARS manages vehicle donation programs for reputable charities, leveraging a nationwide network of thousands of wholesale auctions, retail and private buyers, and recyclers to maximize sales opportunities. ARS charges charities a modest per vehicle processing fee, returning over 84% of Gross and 90% of Net to fund mission services.
ARS flags high value, classic and luxury cars for special handling. Eric Brocklehurst, Senior Remarketing Specialist, personally managed the Porsche 911 transaction. After researching sales opportunities based on the vehicle’s age, condition and value, Eric selected a retail consignment dealer and closed a deal for $26,000 – nearly its full appraised value. At the typical salvage auction, Carl’s Porsche would have sold for a mere fraction of its value.
Through Cars for Charity, Feed My Starving Children will receive over 93% of gross sales, after direct expenses, with a donation of $24,246. Compare this to other car donation programs that deliver only 70-80% of net.
[ARS] definitely not only met my expectations but exceeded them. I would have been happy with a $21,000 selling price. I was in shock when the sales price came back!
The transaction was also a win for Carl, who in accordance with tax regulations, received a tax receipt for the full $26,000 selling price and was able to make a transformative gift to a charity close to his heart. Carl was quick to share, “everyone in the chain has been fantastic.”
Car Donation Wizard has proudly raised over $200 million for our charity partners. Click here to read our blog with step-by-step instructions on how to donate your car. Support your favorite charity by donating your car online or calling us at 877-957-2277.
Advanced Remarketing Services, Inc. is the administrator of the Car Donation Wizard vehicle service. ARS sells wholesale, salvage and consumer markets to the most appropriate buyer base.