Repair, Sell or Donate?
November 3, 2013 - Posted By Vets Vehicles
Has your car served you well? But now it’s definitely worse for wear?
So many car owners are faced with the decision of what to do next when it’s no longer worth it to repair their car. It usually boils down to making a choice between selling or donating. If you only evaluate this on the dollars and cents, you are likely to choose selling if you don’t itemize your deductions for your taxes. If you itemize, then you can take the deduction but you might be better off with the cash in hand. Whether you itemize or not, once you start to consider the hassle of selling it and the benefits to your happiness by making a donation to a cause you care about, then the scales tip.
Of course, here at Vets Vehicles, we love it when people choose to donate their cars to a good cause (Vets Vehicles or others!) Fortunately, research supports the notion that donating (spending money in a pro-social way as the researchers at Harvard called it), leads to higher levels of happiness. In addition, selling your car (especially if it’s not running well), can be challenging.
If you sell to a private buyer through Craigslist or something similar, you’ve got to ensure that they’re able to pay for the car; trust them while they test drive it; coordinate the title transfer; and other hassles. Choosing to donate a car that isn’t running well is much easier. Just give us a call at 888-838-7834 and we’ll help you get started.