Figuring out what to do with a vehicle you no longer want or need can be a difficult task. After all, there are truly so many choices to pick from. For instance, you can choose to sell the vehicle to a private buyer, trade the vehicle in at a dealership, or simply hold on to the vehicle in case you ever need it again. While all of these can be good options, there is another option that many people fail to consider. This option is donating your car to a Veteran's charity. If you have yet to consider this particular option, continue reading to learn more about the three reasons why this may be the best option of all.
Reason #1: Enjoy A Significant Tax Break
Whenever you make a charitable donation, you are able to claim the fair market value of this donation as a tax deduction when filing your income tax returns. Choosing to donate your vehicle to a Veteran's charity is no exception to this rule. In many cases, you may even find that the tax deduction you receive is even more valuable than what you would receive when choosing to trade in your vehicle at a dealership. This is because your tax deduction is based on the fair market value of your vehicle rather than the reduced amount that most dealerships will offer in order to ensure they are able to make a profit by selling your old vehicle.
Reason #2: Skip The Time-Consuming Process Of Selling Or Trading In Your Car
Finding a buyer for your vehicle can be quite time-consuming regardless of whether you choose to sell it to a private buyer or to trade it in at a local dealership when purchasing a new car. In many cases, you will put several hours' worth of work into advertising your vehicle, showing the vehicle to prospective buyers, and negotiating a fair selling price. This entire process can prove to be quite stressful. When donating your car to a Veteran's charity you can avoid this process in its entirety. In fact, most charities will arrange to have the vehicle picked up at no cost to you regardless of what condition the vehicle is in.
Reason #3: Provide Help For Those Who Help Protect The Country
There truly is nothing more honorable than putting yourself in harm's way in order to protect the country you live in and your way of life. Veterans have selflessly given of themselves in order to ensure that you and your family continue to enjoy the freedoms that make life in the United States so full of opportunity. Choosing to donate your car to a Veteran's charity is the perfect opportunity for you to give back to these heroes while still enjoying several other benefits yourself.
For more information, contact a charity like Cars 2 Charities.