Wednesday, December 10, 2008

Donate Your Car

By fred frung alfred solk greta gunto preston friedheim vitaly sonnborn

One of the most inconvenient aspects of purchasing a new car is disposing of the car you are replacing. There are three main options to consider: resale on the private market, dealer trade in, and selling to a junkyard for parts recycling. All of these options have their advantages and disadvantages. Resale is time consuming, and requires a commitment to returning calls and negotiating with potential buyers. Trade in is easy, but can give a good portion of your car's value to the dealer. Selling to a junkyard is a good option if your car has no resale value, but also involves finding a salvage car buyer. One way to make good use of an unwanted car is to consider donation to a licensed charitable organization. If you decide to donate your car you can receive several advantages:

It is easy. Most charities make car donation simple for the donor. Normally you call the charity, request a pick up time, and the charity will come straight to your door to pick up your vehicle. You will only have to sign a simple form to transfer title of the vehicle, and then the charity will tow it away for you.

Giving feels good. Perhaps you have been considering giving to a cause that you believe in, but have not had the extra money to do so. Donating your car gives you the ability to give a generous donation to the charity of your choice, without emptying your bank account. It is a rewarding feeling to know that your unwanted vehicle can become a means to help someone less fortunate than you.

Put some money in the bank. It might seem counterintuitive, but sometimes giving your car to an organization can also be a good financial choice for you. First of all you won't have to pay to repair and detail your car to sell it or trade it in. You won't have to place costly classified ads, or continue to pay the insurance and registration fees on your car while you await its sale. Finally, come April 15th, you might be surprised by how a car donation can reduce your tax bill, putting a bigger refund in your pocket.

Only you can decide the best way to dispose of your used car based on its value, and the time and energy you have to devote to its sale. After considering all the options, you might find that it is in your best interest to donate your car. - 15224

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