Sometimes, dealing with your car can be like trying to make a perfect croissant from scratch: way more trouble than it’s worth.
Because what happens when you find yourself stuck with a car that won’t run, or a car that’s missing headlights and a bumper or two, or maybe even a car that you just don’t need anymore?
You can definitely sell it, but most people soon discover that that takes a lot more time and energy than they’re willing to invest.
And when they find out that they’re going to need to advertise, take pictures, prep the vehicle, meet to negotiate a sale, and then haggle over a decent price, the option becomes even less attractive.
In your exhaustive research (i.e. quick Google search during your lunch break), you may have come across some people suggesting that you donate your car instead of selling it.
And like us, you may be curious about hearing more.
Are there in fact advantages to donating a car?
Top 5 advantages of donating a car
1. Help a charity whose work you believe in.
C’mon, we all need a feel-good factor in our lives.
This can be yours!
Use your discretion to choose a charity that you support, and then rest assured that your old vehicle is going to a good cause.
You’ll want to be sure that it’s a legitimate charity, and that they’re doing good things with the vehicle.
2. Snag a tax write-off.
A nice tax break never hurt anybody.
When you donate your car to a registered 501(c)3 charity, then you get to enjoy the tax benefits.
If the donated vehicle is sold for less than $500, you can claim the fair market value of your vehicle up to $500 or the amount it is sold for if less than fair market value.
If the donated vehicle sells for more than $500, you can claim the exact amount for which the vehicle is sold.
Your deduction will be based on the sale price of your vehicle, so make sure you choose a charity that will work hard to get the best price for your vehicle, ensuring a bigger deduction for you and more funds for charity.
3. Hand the hassle to someone else.
You’re busy, aren’t you? (No, we’re not tracking you through microchips, it was just a lucky guess.)
Cross one thing off of your to-do list.
Car donation programs will completely take over the process of selling your car for you, leaving you with one less thing to worry about.
4. Free pick-up and removal
Different programs have different response times, but find a good one and you can even donate one day and have it picked up the next.
5. Get rid of it even though it’s a clunker.
Let’s face it.
You may have some great memories with your car, but it’s probably seen better days.
And that’s okay, but it may make selling the car or getting a decent price for it difficult, especially if you lost the title or have a lien on the car.
Car donation programs, however, are often willing to take cars without a title and in almost any condition.
And when you consider the fact that you’ll still get to enjoy your tax break, why not hand off the old darling to be someone else’s problem for once?
Donating your vehicle really may be the right option for you.
If you do your research properly and choose a worthy charity that will handle your donation professionally, then it can actually be a win-win for both parties.
They can get the car off your hands quickly with minimal back-and-forth and a fast response time, and you’ll save yourself time and heartache.
Empty driveways for the win!
