When you’re ready to get rid of your old or junk car, choosing whether to donate a car or sell it for a profit is one of the most personal choices you’ll have to make in the car sales process.
Many people think they can’t get value from a broken or damaged old model car, which is far from the truth.
We know a thing or two about getting value out of your car, and the good news is that when you’re looking to get rid of an old clunker or a damaged new one, you have options.
Donate A Car for a Tax Deduction
Donating your car doesn’t mean you don’t get something in return. Depending on your vehicle’s quality and fair market value, you may qualify for a tax break.
According to TurboTax, you can deduct up to the amount of your vehicle sold by a charity, and there’s no better feeling than supporting a cause that’s meaningful to you.
Donate Your Car to A Worthy Charity
You may need to research the charity you want to donate. Make Not only sure you choose a reputable charity but also make sure that your donation benefits you.
If you have a charity, visit their website to see if they have a section dedicated to car donations, or you can contact them to inquire about donations.
If you don’t have a specific charity in mind, you can usually google car donation sites, but it will take more time to ensure the charity is actual.
Below is a short list of national charities that accept car donations:
- Disabled American Veterans
- bona fide
- ZamZam Foundation INC
Since many significant charities do not have the workforce to process all the car donations they receive, many charities outsource the process to another business.
The supplier may work directly with the auction platform, and the donation will ultimately go to a local or national charity that works with the donated vehicle.
Donating a Car That Doesn’t Run
Some charities may not accept your donation if your vehicle is not running or in an accident and driving are unsafe. Some nonprofits may have a set of requirements before accepting vehicle donations.
It’s best to check with the charity you wish to donate a car to beforehand.
Benefits to Selling Your Car
Another option is to sell your used or damaged car directly to a company that will pay you when the vehicle is picked up.
Then the choice to donate all or part of the return is up to you. It’s also an excellent option for anyone who wants to contribute to an organization that doesn’t have a straightforward car donation process. Turnaround time may be faster than donation as we usually pick up the car within 24 hours.
Donating or Selling Your Vehicle
Ultimately, this will be the best option for you to donate a car. Many people donate directly to a charity for their reasons, which may be the best option for your situation.
So, when it comes time to sell your old car, find the offer and route that works best for you. Wondering how much your car or truck can make? Please fill out our cash quote form or give us a call now!