If you have a car that you no longer have a use for, your first thought is probably to sell it. However, there are many benefits to donating your car that can outweigh the benefits of attempting to sell it. Here are four of the main reasons to consider donating your car:
- Avoid Stress: When it comes to attempting to sell your car, there is a great deal of stress that comes along with it. First, you need to create a high quality ad that will capture the attention of buyers. Then, you will need to wait to get hits on the ad and deal with negotiations, as well. When you donate your vehicle, it's much more cut and dry. All you need to do is have the donation center pick it up or bring it to a donation center yourself. From there, you will receive a receipt to use for a tax write-off.
- It's Green: If your car is completely not usable, when you donate it, all the parts will be recycled. This is the greenest way to get rid of the car instead of continuing to let it sit in an empty lot or space on your property.
- Tax Benefits: When you donate your car, you receive tax benefits for doing so. When you receive the receipt for your donation, you need to save it. On top of this, you will need to know the fair market value of your vehicle. This will determine how much you can write off. This can make up for the fact that you didn't sell the vehicle in the first place, but instead gave it up for donation for no payment.
- You Can Help Someone in Need: When you donate your vehicle, it can go to a person in need. The car can be purchased for a much lower cost by someone who really needs a car. If the car is not usable, it can still help someone since the recyclable materials create jobs in the steel industry. This benefits the economy significantly.
When you know these four reasons to donate your car, you see why it may be more beneficial for you versus selling your vehicle. If you sell your vehicle, not only will it take time, it will also create stress and not provide as much help for the local economy. So if you have a vehicle that you no longer have a use for, consider donation.
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