Sick of staring at that old junky car and wondering what to do with it? One route that is often overlooked is the opportunity to donate your car to charity.
Here are three reasons why donating your car may be a better option than selling it:
- You Help Others
Many nonprofits would be happy to take your car in almost any condition, and you would have the satisfaction of supporting a worthy cause. If your car still runs well, it can be used for the transportation of goods and/or of people in need. If the car is truly junk, the charity can sell it to a scrapyard and use the cash to support its programming.
- You Receive Tax Benefits
Donating your clunker to a charity likely means you are eligible to receive tax benefits. You can potentially receive a tax write-off equal to the value of the donated car. That means if your car is worth $600, you get a $600 write-off.
- It’s Easier than Selling
Donating a vehicle is a quick and easy way to get that old car off your hands. Charities will typically make all the needed arrangements and even come pick your car up themselves.
Contrast that experience with selling your car, which would involve fixing it up, listing it, and haggling with potential buyers.
If you want to help others while benefiting from a tax-deduction in the process, donating your car to charity might be a great option for you!