You have fallen in love with a brand-new car. The only problem is that you won't have room in your driveway for a new car until you have disposed of your old one. You could place a classified ad and sell it, and deal with calls from buyers and paying for repairs to the car to make it appealing to a new buyer. You could trade it in at the dealership towards your new car, but you know that the dealer will not give you anywhere near what the car is worth. A local charity has been advertising that they will accept your unwanted car, but you are not sure. Donate your car? Are there benefits to giving up the potential profit on your car's sale to a charity?
Hassle Free: Car donation is arguably the simplest way to remove your used car from your home. Most charities will set up an appointment, and then come to your home with a tow truck and simple paperwork. Within a few minutes, you transfer liability and ownership for your car to the charity and it will be on its way to its new home.
Giving feels good. Perhaps you have been considering giving to a cause that you believe in, but have not had the extra money to do so. Donating your car gives you the ability to give a generous donation to the charity of your choice, without emptying your bank account. It is a rewarding feeling to know that your unwanted vehicle can become a means to help someone less fortunate than you.
Giving makes financial sense. While it might seem that donating a car will cost you the money you might have made on its sale, sometimes it can be more financial beneficial to donate a car than it is to sell it. Consider the money it may take to repair your old car to make it appealing to a new buyer, as well as the costs to market your vehicle for sale. When you donate a car, you can deduct the fair market value from your taxes. This offset in taxes can sometimes be greater than the money you would make on a trade in, or even a sale.
Consider all the options when disposing of your vehicle, you might find that donation is a choice that works for you.
See how to donate your car to charity and other interesting topics on Donate Your Car.
