In this time of a slow economy, if you have been hoping to obtain a new vehicle and your budget will allow it, this is a great time to do so. Car dealers are crying for business and no doubt will be more than happy to work within whatever reasonable terms you wish to offer.
While it is a great time to buy a car, it may not be all that great a time to expect much for your trade-in. When you trade one in, especially if the trade-in is a bit on the older or higher mileage side, the dealer may not be willing to offer a lot for it. Rather than trade in the vehicle, consider another option instead – car donation.
Donate a car? Yes, but do it the right way. Donate your car to charity.
Why? Two reasons – you will help someone else better themselves and you will receive a tax deduction for it.
Use caution in your charity selection and do not hesitate to ask a lot of questions. Good charities will answer all of your questions without hesitation. Those organizations which pretend to be upscale charities, but are actually a wolf in sheep’s clothing, may balk at some of the questions you ask. Red Light! Run - don’t walk - away from them with keys in hand!
Here are some good questions to ask:
Does this charity have a name you recognize?
Is there a website available to learn more?
Will the proceeds from the car’s sale be used within the community where the auto donation took place?
Is this particular charity IRS approved?
An answer to all of these questions, and others, is available in two easy-to-remember words - Goodwill Industries.
“Goodwill Industries? I thought all they asked for was clothes. It never occurred to me to donate my car to charity.”
When you make a vehicle donation to Goodwill Industries, they sell the car at auction and use the money to fund the many programs they offer to the surrounding community.
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