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Should I Donate My Car, or Trade it in for Cash Value?

/ / Should I Donate My Car, or Trade it in for Cash Value?

(Last Modified on: August 12, 2019)

When it is time to bid farewell to your car, as it has broken down forever, you have a few different ways to send it off. One of them is to donate it to charity. Or you can trade it in if you want and can find a car dealer who would take a scrap car. Now it is time to choose one of these options, or simply sell it to a Wrecker.

The options that will get you the most money are the trade-in or selling options. If you decide to sell it, and you live in the Auckland, contact Taha Car Collection as we are the best. You then tell us your car’s details, including what condition it is in. In less than twenty four hours you will have sold your scrap car for top cash.

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Donating a Car

If a car is totalled, it is more advantageous to donate it than it would be if the car was in good condition. This has to do with tax deductions. The number of dollars that you can deduct will be related to the way the organisation that you donated to actually utilise the vehicle. Chances are that they will sell it to an auto wrecking service or car scrap yard of some description.

Perhaps they make the decision to repair the vehicle for their own driving needs. This is when things aren’t as simple. It can even have an impact on how much your deduction is. There is a need for documentation in this circumstance. The kind of documentation charities are usually in the habit of providing is of the receipt variety.

If you are going to donate to a charity, the best charities to donate to are the ones who are specialists in automobile donations. This is especially true when the vehicle in question happens to be of the totalled variety.

Trading in a Car for Cash Value

The whole process behind donating a car will turn out to be far more convoluted then you may like. If this is the case, you can do things using a far more simple process. This is the one where-by you simply trade in the car for cash at an auto wrecking company. It is going to be more of an easy and pragmatic option, and if you still want to give to a charity, you can. Just give them the money you got instead. It will still be tax deductible.

This also widens your scope for who you can donate to. Instead of being limited to giving to a charity that deals in scrap cars, you can give the cash to anyone that you choose to.

Conclusion: Donate a Car vs Sell it for Cash!

If you want to do either one of these, it is entirely up to you. If you decide to donate your car to a charity, it will be more complicated than simply giving the money to someone. This is why we have nice things!

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Posted By: Glen Hunter | Posted On: June 24, 2019 | Category: FAQ | Tags: donate junk car without title, donate junk cars for cash

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