When most people think about getting rid of their old car, they usually want to sell it. However, if you are an individual who sees the value in donating a car, this article is for you.
If you didn’t know, there are many benefits to donating an old car. It’s not only about doing a deed from your heart and giving back. So, what are the advantages of old car donations?
Well, continue reading to learn the answers.
A Tax Write Off
You may or may not know this, but donating an old car is a write-off on your taxes. You’ll receive a tax credit since your donation is 100% tax-deductible.
Just make sure that whichever organization you donate to is partnered with an IRS-certified 501(c)3 or is a standalone 501(c)3.
If it is, you’ll enjoy getting a tax break from giving your car away. While this process isn’t the same as receiving money from selling a car, it’s still financially beneficial.
No Documentation Needed
When you sell your car or even give it to a junkyard, there’s usually a lot of paperwork involved. However, things work a bit differently with old car donations.
Not to mention, most charity organizations have a team of people who handle the paperwork for you. Therefore, you’ll have peace of mind knowing that everything is taken care of, and you won’t have to deal with any hassle.
Depending on the situation, when you give your car away, you may have to come out of pocket to have it towed. The good news is, when you donate an old car to charity, that organization will likely pick it up for you for free. That in itself is a good deal!
There’s nothing worse than dishing out money for an old vehicle that you no longer drive.
The Satisfaction of Giving Back
Sometimes it’s not always about making money. If you are in the financial position to donate your car, why not? Usually, donated vehicles go to individuals who truly need them. They’re donated to people in low-income families, the disabled, and anyone else who’s in dire need of a car. Your act of kindness would mean the world to someone else and make their life easier.
If you are wondering, should you donate your old car? The answer is yes! Click the highlighted link to learn more about donation options.
The Benefits of Old Car Donations
As you can see from the list above, old car donations are actually beneficial. If you feel a tug on your heart to donate your car to charity, or if you feel like your vehicle isn’t worth the hassle of the selling process, then donations are the next best thing.
Did this content help you? If it did, check out more of our website to read other automotive-related articles.