Should You Donate Your Used Car?

July 16th, 2014 by

When your car has aged out or you’re ready to upgrade to a newer model, your first thought may be to sell it or to trade it in. You can take it to a Cincinnati used auto dealership and see what you can get for it. In some cases, your car may be too old to get much of value.

You may want to consider donating your car instead of selling it or trading it in

for a new one. Even if you stand to get a good value for your car, you may still want to consider donating it. Here are a few reasons why:

You’ll be Helping Someone in Need

There are two possible scenarios for your car when you donate it: The organization will fix it up and give it to a person in need, or the organization will sell it for scrap or parts and use that money to fund their services for the needy. Either way, you are helping someone by donating your car. Common groups that accept donated cars provide services for the blind, battered women or the homeless. Those are all groups you can feel good about supporting.

You Get a Tax Deduction

Donating your car is just like donating money to a charity. You can write the amount off on your taxes. You will need to consult an accountant to determine the exact amount you can claim for the car, but you will likely be able to claim the value assigned to it by guides like the Kelley Blue Book.

You Simplify the Process

When you sell or trade in a vehicle, you will have to fill out a lot of paperwork. When you donate your vehicle, you won’t need to do as much. The process will be a lot simpler and a lot faster. Donating your car is a good option when you just want to move your car as quickly as possible.

Selling your car is a great way to raise some extra cash for your next vehicle purchase, whether you are selling it to a Cincinnati used auto dealership or an individual. However, if you want to do greater good with the vehicle, you might consider donating it to a worthy cause. You’ll help people in need and reap a few benefits for yourself, such as getting a nice tax break and simplifying the process of unloading your car.