Mile after mile, your car has served you well, but when you take your old ride into a new dealership as a trade in, they just don't see it as valuable as you know it to be. If you are like most people, a low-ball trade-in offer from a dealership will mean you simply take the car back home and stick a for-sale sign on the window. However, there is one other option to eliminating an old car that can prove to be quite advantageous. Here is a quick look at the little-known advantages you could reap by donating your car.
Receive a tax credit for your donation.
If you donate your car to a known humanitarian service or non-profit organization you will receive documentation to prove that you have handed over your car for a good cause. In some situations, this means that you can deduct the value of your car as a deduction on your taxes. To ensure you can use your car donation as a tax deduction, keep track of your documentation that proves the car has been donated to a specific place and find out the true value of your vehicle.
There are all kinds of ways in which you can donate your car because there are always charitable organizations in need of vehicles. A few examples of organizations which are always on the lookout for vehicles include:
- support centers for low-income students
- veteran centers
- homeless shelters
- centers which offer services for needy families
By giving your car to one of these places, you will know that the vehicle is being out to good use by someone who needs it. For example, your vehicle may go to a wounded veteran who is trying to get on their feet or a struggling college student.
Be a hidden supporter of further education.
Donated cars are also highly sought after in trade schools and further education centers to be used in mechanical programs. Donated cars to these places are used to teach the students various things about the inner workings of an engine or making auto body repairs. If this is how you choose to donate your vehicle, it will not even matter if it is not in the greatest condition. You will see your vehicle put to use in an educational environment and know you are doing your part to support these institutions.
For more information, talk to a professional like Action Donation Services.