How Much is Your Car Worth?
The end of the year signals a hurried rush to either buy a car, trade in your old one or settle with what you have. How do you know what your car is worth without making a trip to the appraiser?
Go to the Kelly Blue Book Web site for a full range of listings for new car pricing, used car rates and a variety of other tools to help in deciding where and when to buy a new vehicle.
The site includes quite a bit of research information, including new car reviews and even a Title History Search, ideal to figure out whether a used car has ever been in an accident.
This site is also useful when attempting to determine the value of automobiles donated to charity. Keep in mind, however, when contemplating how much you can deduct on your tax return for donating a car to charity, the Blue Book value is merely a starting point. The IRS expects you to reduce the donated value of the vehicle to the amount you would be able to sell it for in an arms-length transaction.
Meanwhile, if you're thinking of purchasing a new car, stop by the AccountingWEB calculators to calculate how much car you can afford to buy.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.