Your Tax Deduction
How much of a tax deduction will you get?
The IRS will allow you to claim a tax deduction in the amount of the sale price of the vehicle. The tax-deductible receipt provided to you by Metal2Petal will be in the amount of the full sale price.*
The IRS will allow you to claim the fair market value of the vehicle, up to $500. Within this guideline, the IRS allows you to determine the fair market value of the vehicle yourself.
We work hard to maximize your deduction - here's how:
USING OUR EXPERTISE
Our market experts evaluate each vehicle to determine how to maximize its sale value based on type, age, condition and other factors.
First we calculate an estimated value, then we sell the vehicle at auction, to a dealer or to a local yard for recycling, yielding the highest deduction we can get for you.
BEST VALUE FOR OPEN SPACE
We do not settle for a losing price. We strategically place the vehicle and keep it on the market until we get the best value for preserving open space.