Should I Trade it in for a New Car Or Donate?
Aside from all the great reasons to donate a car to charity that are mentioned all over this website, you will find many reasons to donate your car, over using it as a trade in. I will briefly outline all the benefits of a charitable donation over simply trading it in on a new car.
First off, have you ever traded in a vehicle? If so; you will already know that they never offer premium prices. As a matter of fact, usually what they offer is just shy of a full pledged slap in the face! They are always going to be able to sell that car and make a significant profit. To top it off, they are already going to be making a small fortune off your purchase of the new car that you are getting the trade in credit towards.
Maybe the Best Option for You is to Sell it?
Of course this is likely the most time consuming option, but you will likely make the most money. With all the online places these days to sell a car such as ebay and autotrader, this process can be very simple and fast if you cover all your bases. After you sell your car for the profit, you can still donate that money to charity(or some of the money). Note that: not all charities are willing to accept cars. That way you can keep some of the money and donate the rest to your favorite charity that may not be equipped to deal with a donated car. Or You can take that money and use it towards a road trip in your new car! Because trading it in will likely gain you next to nothing.
If still convinced to take the easy way out and save some valuable time and energy, here are the benefits of donating over a trade in.
Benefits of Donating Over Trading it in
- Most importantly: You will probably get more money in return from tax benefits
- You will be helping a person or charity in need
- You wont be contributing to lining the pockets of some unscrupulous car dealer
Whatever route you end up taking, I wish you good luck! I know that selling a car, donating it, or even the process of buying a car is nothing more than a pain in the butt! I hope you gained a little insight into some options that you might not have otherwise considered.