A lot of people have plans to one day donate their old car, truck, motorcycle, RV or boat to charity. But how do we know when is the best time to donate? Giving up your vehicle can be a difficult decision even when you realize that is will benefit a cause that you care about.
To assist donors with this difficult decision of when is the best time to donate your vehicle, we’ve written up this simple guide for you.
12 Tips For When To Donate Your Car to Charity
There are many reasons that someone chooses to donate their car. If you are reading this, you likely have some reasons of your own. If you are thinking about donating your vehicle but not sure what is the next step to take, here are some circumstances showing good timing for donations.
- When your car has broken down or is unreliable. If you find yourself unable to count on your car when you need it and it is adding to your stress, it may be time to let it go and move on.
- When the expense to maintain and repair your car is too much. Even small repairs can add up and make your vehicle more costly to maintain that it is worth.
- When the warranty on your car has expired and there is no more manufacturer coverage for expensive repairs.
- When you find a great deal on a new vehicle, but you know that the trade-in value of your old car is low. Car dealers are known to offer a much reduced rate than the value of their trade-ins. This is particularly true if the dealer knows that the buyer really wants to get rid of the old car to be able to get the sale of the new car.
- When your car is close to 100,000 miles and you are not looking forward to the substantial possibility of expensive repairs of the transmission, fuel pump, water pump or brake pads. It may be a good time to let go of that worry and move on.
- When you have finally paid your car loan off and are shopping for a new car.
- When it is getting close to the end of the year and you are thinking of adding a tax deduction. Any vehicle donated before midnight on December 31st counts for a tax benefit for the tax year it was donated.
- When an older relative has passed away and you have inherited their old vehicle. You can bypass the stress of trying to fix up or sell it, and also keep your driveway free of another car taking up space by donating that old car to charity.
- When your vehicle is beginning to show signs of rust damage and you know it will only worsen. The use of road salt can really destroy the value of your car if it builds up rust damage. Car donation may be a great option before it gets worse.
- When your vehicle doesn’t start anymore. Maybe you don’t have time and money to get it started again. Maybe it’s completely worthless. That might be true if you try to sell it, but not if you want to donate it to charity. Even cars that aren’t starting or running can be donated to benefit a charity.
- When your car has damage to its body. It may need a salvage or total-loss title which will immensely lessen the value of your car. Most insurance companies will not cover a totaled car. Yet even with body damage, you can still donate a car to charity and receive a tax benefit.
- When you have outgrown your car. If you have to move up to a bigger vehicle for your family, or get a more economical car, you may be ready to move on from your old car. Save time and money in fixing up and selling that car and donate it so it can continue to make a difference for a Cause you like.
If you find yourself in any of these situations, now would be the perfect time to consider a car donation to charity. Your car does not need to be in great shape to benefit a worthy cause. Older vehicles and cars with mechanical issues all help our trusted charities that we have teamed up with. Each charity from our list of hundreds, has been pre-qualified to meet the IRS rules for tax deductible car donations.
To donate your car, simply give us a call at 1-800-237-5714 or browse through our list of charities and use the online donation form.