There comes a time when you need to get rid of your old car for a new one. In such a situation, you have two main options. You can either sell the car as second hand or donate it to charity. While most people prefer the first option, donating your junker to charity can come with numerous benefits. In brief, some of these include getting financial and emotional benefits. Donating is also less involving compared to selling. As a matter of fact, you don’t have to wait until you want to offload your car to donate. Here are some of the incredible benefits of donating a vehicle to charity.
Here They Are: The 6 Benefits of Donating a Vehicle to Charity
1. You Get To Make a Difference
One of the major benefits of donating anything to charity is that your donation can change people’s lives. Donating your car gives you a chance to make a difference in your community. It might seem that a car donation would be of less benefit to low-income and poverty-stricken households. Well, this is not always the case. Giving your car to a charity organization can be a direct or an indirect benefit to such households. For one, the car can be used to transport supplies. It can also be sold and the proceeds used to benefit the less fortunate in the community. Donating your car to someone in need can help them get back on their feet. Who wouldn’t feel glad when they can to support those in need even in the tiniest way possible?
2. Financial Benefits
A car donation can have benefits far beyond expressing your generosity and kindness. Unbeknownst to many, car donations also come with a number of financial benefits for the donor. The most common financial benefit is tax deductions. Donating your car to charity can put some money back into your pocket the next income tax returns filing. You just need to understand the regulations and the qualification criteria. With the right advice, you can manage your donation to get the biggest tax deduction net you qualify for. But basically, though, the amount of tax deduction will depend on your vehicle’s value. You can even qualify for a tax deduction as much as your vehicle’s sale price. This can be a really sweet deal, especially it’s worth $500 and above.
3. Donating Is a Simple Process
The other benefit of donating a car to charity is that more often than not, it is a simple process. Compared to selling, donating your car won’t take as much time and hassle. Especially when dealing with a good charity organization, the documentation process is usually fairly easy. You’ll spare yourself from the hassle of having to move from dealership to dealership. Additionally, you don’t even have to conduct costly repairs to offload your car. As a matter of fact, some donation sites provide certain specific rewards such as a free vacation to car donors.
4. More Space in Your Home
Space is one of the reasons anyone would want to get rid of their old car. When your garage or parking space is becoming too small for your fleet, donating it can be the best option.
5. Less Costs
As much as it is a valuable asset, owning a car comes with certain unavoidable costs. By donating your car to charity, you can free up some recurring expenditure of your budget. You get to save on things such as fuel, car servicing, repairs, and auto insurance. This, together with the previous benefits of donating a car to charity, brings us to the next important benefit. You get to have peace of mind!
6. You Get Peace of Mind
Whether you’re your own driver or you have a personal chauffeur, owning a car comes with a set of risks. Anytime, you can receive a call that your car crushed or bumped into someone else’s property. Car theft is also a common threat faced by literally anyone who owns a car. You also have to spend on your car’s upkeep as long as you have it under your possession. And let’s be honest, all these thoughts can sometimes be disturbing to your mind and spirit. Donating your car to charity can be a wonderful way to reduce car-related stresses. It can give you a peace of mind.