It is not all times that you must sell your car when you don’t have any use for it. Another alternative that you can explore is to donate car to charity. It is not only car donations but you can donate a boat, motorcycle donation among others.
There are some benefits that come with choosing this option which are; you are contributing towards to the community and low income families, you get some tax benefits as well, you get to have an opportunity to get another car, it is a simple process and doesn’t take that long.
There are some reasons that would make you want to donate the car like; if it is a junk car and you want to get rid of it, you need to make some repairs on the car but it is too expensive for you, if you have a car that belonged to a relative that is deceased you can choose the same option, donors want to create more space in their garage, you can also donate if you boat donation, donating a boat, car donation tax deduction, donating cars tax deduction, donate car tax deduction find a vehicle that is seasonal and rarely used, you can also explore this if you are not looking to sell the car, when it is not worth it to trade in your car you can explore this alternative.
One can use a guide that helps them when it comes to donating the car which is; you should have an idea of what your car is worth so that you know if you are eligible to claim on your tax return or you are donating cars for tax deduction, choosing the charity is the next thing that you should do so that you choose a charity that is qualifying and approved by the IRS which you can do some research to find out more about them, getting the car ready follows as the next thing that you should do which involves making a checklist to see if it is in working order, having good brakes, a good engine among many other things, look at all the paperwork that you have and ensure that it is sufficient which would include the title for the car, transfer forms, and any accident history, another important tip is to ensure that the car is clean both on the inside and outside so that it appears presentable, you should ensure that you keep all the keys together for the car so that they are all consolidated, all paperwork you have should be saved because they will come in handy during tax time so that you donate car for tax credit, if you had taken out insurance for the car, you should make sure that you have cancelled it and your name is out of it to avoid legal issues in the future, and finally consider an alternate approach.