Can I donate a vehicle that I still owe money on?

Yes, individuals can donate a vehicle that still has an outstanding loan balance. However, there are specific considerations to keep in mind. When the vehicle is financed, it is important to contact the lending institution to understand the procedures involved in transferring ownership of the vehicle to a charitable organization like Kars4Kids. The lender may have specific requirements or need to be involved in the donation process to ensure that the loan is paid off. When donating a vehicle with a loan, the donor may be required to pay off the remaining balance prior to the donation. In some cases, the donation proceeds can be directed toward paying off the loan, but this would depend on the specific arrangements between the donor, the lender, and the charity. It is also advisable to consider the current market value of the vehicle and how that aligns with the loan balance. For detailed information on the donation process and any specific questions, individuals may find it helpful to refer to the Kars4Kids website for current guidelines and procedures.