With so many options for getting rid of an unwanted vehicle, you may be wondering about the benefits of car donation and whether it's the right fit for you. If you have an unwanted vehicle, you can trade it in at a dealer, sell it on Craigslist, put it into storage or, if the condition is bad enough, scrap it.
Many people forget that car donation is another great option to consider when getting rid of just about any vehicle. If you've never considered car donation before, here are a few great reasons donating a car to charity might be right for you!
1. Car Donations Are Tax Deductible
A lot of people worry that their old vehicle or junker might be a challenge to sell or trade in; this is often for good reason, as depreciation rates continue to rise. How bad is it? According to Automotive News, the average annual depreciation on vehicles between two and six years old jumped from 8.3 percent in 2011 to a walloping 17.3 percent in 2016. This year, it is projected to climb even further and reach 17.8 percent.
That's bad news if you planned to cash in by trading up or posting your car ad online. On the other hand, it makes car donation a perfect option for an older vehicle. With car donation, you will receive a great tax deduction no matter what, decreasing your taxable income come next tax season.
2. Car Donations Are Towed For Free
As an added benefit to getting a tax deduction, you also don't have to pay for vehicle towing when you donate. Not all charities offer this, so it's important to do your research and find one that does tow for free no matter what.
Free towing is one of the main attractions for donors who have a car that's damaged or that doesn't run. Tow companies may charge you a base fee of up to $75 just to hook up your car. When you add on the cost-per-mile, the average tow can cost up to $125. Car donation, on the other hand, means you get to enjoy free towing.
3. Most Vehicles Are Accepted As A Donation
If you have an RV, boat, junk car or other vehicle you don't know how to get rid of, you may be wondering if a charity will accept it as a donation. In most cases, the answer is yes. Most of the time, your old vehicle doesn't need to run in order for you to donate it. Donors also don't have to worry about making repairs to their vehicle beforehand. If your vehicle is accepted, it is accepted as is.
4. You Don't Do Any Of The Work
Car donation charities are staffed with experts who handle everything from taking your donation to answering tax deduction questions, processing vehicle titles and issuing your tax deductible receipt. There's a bit of paperwork involved when you donate a car, but a good car donation program like Vehicles For Veterans will take care of all this for you.
5. Car Donation Charities Support Causes You Care About
One of the main draws of a car donation program is that you can support a charity you care about all while getting rid of an unwanted vehicle. Donating your car allows you to check two things off your list at the same time: making space in your garage and giving to charity.
Which Car Donation Program Should You Use?
There are plenty of car donation charities to choose from. If you want to support programs for veterans and their families, Vehicles For Veterans is the way to go. The proceeds from your vehicle donation support several veterans' charities throughout the U.S., helping them provide necessary services and programs to veterans everywhere.
If you have a car to donate, call Vehicles For Veterans at 1-855-811-4838 or use the easy online car donation form to get started!