[ds968]

I have decided not to sell my tiptronic 968, after all ...( Jay or Kim, can you please delete my for sale post )

I advertised it for $ 20K ( firm ) but the more I think about this , the less sense it makes to get rid of the car.


First and foremost, it has a newly rebuilt engine ( complete top and bottom ), so why give that to someone else ?!

2 . since I'm NEVER letting go of my six speed 968, this car can always be used as a donor vehicle for NLA parts.

3. it's an incredibly practical driver with almost as much storage space as a small SUV, so we can use it for Home Depot runs, garden shops purchases, grocery shopping , and all sorts of stuff like that .

4. I can drive it occasionally ( instead of the pristine shape six speed 968, or the Maserati..) into crappy areas, or during rain, because I don't care about theft, damage to it, or anything else , for that matter. Peace of mind is priceless.

5. Even if I was to get rid of it, by donating the car I'd be financially better off than the amount I'm likely to get from selling it ; I spoke to a vehicle appraisal place and they told me they would have no qualms providing an appraisal between $ 30 K - $ 35 K , based solely on the exclusivity of it being 1 of only 2 supercharged 968s tiptronics in the U.S. Does not mean I could sell it for anyway near that , but solely for for appraisal purposes it would not be a problem setting that value to it . Since I'm in the maximum tax bracket, donating that car with a $ 35 K valuation, would give me a $ benefit larger than I'm probably going to get by selling it .

All of the above factors even singularly, but especially when combined are worth more than $ 20 K to me, so the decision to keep the car is " academic ". And it's a 968 for heaven's sake !! How bad can that be ?!


Funny aspect to this " first world problem " : - I have a relatively rare Porsche which I now use exclusively to carry plants, manure, lumber, or to drive and park carelessly in undesirable areas . Ugh, the challenges we face in life...

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[Kim]

Done (I think!).

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[Rap]

A buddy of mine and I are stockpiling 968 parts. Of course he is borrowing parts from the red 968 to customize his red 944. Dan I think that is a sensible idea. It will always retain it's rarity.

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[ds968]

Funny related story : I have it listed in Aurotrader.com and among only about five inquiries so far , I also got a call from a person who was clearly a "horse trader" , and who skipped right over the car I'm actually selling, onto to my other 968 ( which was mentioned and pictured alongside the tiptronic, in the email info details ) .


Here's a synopsis recap of the dialogue :


- not interested in the automatic one, but whaddayawant for the manual one ?

- that one is not for sale

- aw, come on, everything is for sale .. I'm interested in that one so let's make a deal

( I will interrupt here to make a side note observation but his diallect was very reminiscent of Joe Pesci's character in " My cousin Vinny " )

- really, it's not for sale.. at any price

- hey, who you kiddin' ? everything has a price !

( interruption once again, as I felt like responding with : so what's your sister's price ? but i didn't ..)

- ok, I guess that everything does indeed have a price ..so ..that one is on sale for $ 2 .5 million .

( ...silence .....)

- you're yanking my chain , right ?

- not at all, $ 2. 5 million is my " motivated to sell " price for the manual one, but if that's more than your budget allows, you can have the green one for the $ 20 K , just as advertised

Needless to say , that's where the conversation ended ..

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[Rap]

Come on what do you want for it? I'll give you 22!

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[az968]

I think you should sell it and buy a 968 with a Chevy V-8,you can haul more manure with it :-)

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[ds968]

a Chevy v8 belongs only in a Chevy !

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[jfrahm]

I do not think you can donate a car these days and claim an appraised value, that ended years ago.  Now you (eventually) get a receipt for what the car sold for after donation, unless the charity uses the car and does not sell it.  In that case you can claim some sort of determined value.  Most charities get rid of the donated cars ASAP for a low price so you end up claiming what you'd get if you sold the car at a low-low price yourself.

 

https://www.irs.gov/pub/irs-pdf/p4303.pdf

 

There is a rule that if the charity agrees that they will make a Material Improvement to the vehicle you can claim market value but that's not so easy.  

 

"Material improvement includes a major repair or improvement that results in a significant

increase in the vehicle’s value. Cleaning, minor repairs, and routine maintenance are not
material improvements. In addition, a material improvement to the vehicle will not qualify if
the donor funded the improvement by giving the charity an additional payment."
 
So you'd have to have an appraisal that said the despite needing a major repair the car was worth enough such that the tax writeoff was about what you'd get selling the car yourself, and a charity that was willing to agree to make the repair and do the paperwork.  And then not get audited.
 
-Joel.

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[Rap]

Give $, it's just easier.

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[ds968]

I'll probably keep it .

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[lbpesq]

We just donated my son's overheating, bad catalytic converter, smoking engine, gas fume smelling, old Honda to the Make-a-Wish Foundation. It sold for $500 and he got the tax credit, not that he can use it as he is a student just working part time. It was very convenient to have them come and flatbed it away, and the money went to a good cause. I checked around and Make-a-Wish took less in administrative costs than many other car donation charities. In a true bonding moment, he and I strongly agreed that we didn't want to give it to Kars for Kids because their song drives us nuts!

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[ds968]

Joel, thanks for the info, had I donated the car I'm convinced I would not have researched the tax issues upfront , and just presumed it was the same as many, many years ago when I donated a car and declared the full appraised value as a deduction on my tax returns.

Of course, my tax accountant would have caught this error, but not until next year when he'd work on my taxes , by which time the car would have been long gone ...


So I'll keep it as a utility vehicle and spare NLA parts donor, unless someone comes up and offers a deal I can't refuse . I was advised to take it at the Rennsport reunion and list it for sale there, it seems there are a lot of Porsche gear heads looking for unique cars ( a supercharged 968 is about as rare as things get ..) at that event , so who knows ..?!


Bob, ( RAP ). - 22 what ?

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[Rap]

vestal virgins

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[ds968]

nah, too much hassle dealing with those..   

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