Learn How Donating Your Old Car To A Veteran Charity Can Benefit You
Donating a car to a veterans charity not only benefits the veterans that are served by this charity, but it can benefit you as well. Continue reading to learn more about a few of the ways in which you can benefit from the decision to donate your old car to a charity for veterans.
1: Enjoy A Tax Deduction
While your old, unwanted vehicle may not fetch a large purchase price on the private market, you can still benefit financially by choosing to donate this vehicle rather than sell it. This is because when you choose to donate your car to a veteran charity, you will be able to claim the value of that donation as a tax deduction the next time you file personal income taxes. What this does is reduce the amount of income that you need to pay taxes on for the year. In some cases, this will mean owing a smaller tax debt at the end of the year. In other cases, this could actually mean receiving a tax refund from the government when you file your tax returns. Depending on how much your vehicle is worth, you could actually end up enjoying a more substantial financial benefit when choosing to donate your vehicle than when choosing to trade it in or sell it.
2: Avoid Paying Towing Fees
Getting rid of an older vehicle can actually end up costing you money in some cases. This is because if the vehicle no longer runs, you may have to pay towing fees in order to transport the vehicle to a local scrapyard or salvage yard to be recycled. This is one of the reasons that many people put off getting rid of an old car that is taking up space in their driveway or garage. Choosing to donate your vehicle to a veterans charity can allow you to avoid these towing costs since many charities will offer a free towing service in exchange for your donation. This will allow you to regain the use of your garage or driveway without needing to spend any money in the process.
3: The Gratification Of Giving
The fact is, giving to a deserving cause can actually help to improve your mood. This is because giving to others is a positive experience that can lift your spirits. For many people, simply knowing that they have helped the same veterans who helped fight to preserve their freedom is truly all the benefit they need.
Reach out to a charity like Cars 2 Charities to learn more about how you can help.