Every car, truck, or SUV owner wonders at some point: should I sell, keep, or donate my vehicle? All three options have advantages depending on resale value, the current market, tax deduction laws, and other variables. How do you know which is best for you at a given time? Here are a few tips to help decide whether you should sell, keep, or donate your car, truck, van, boat, or motorcycle to charity.
American cars now last an average age of 11.5 years, so selling your vehicle before it hits 100,000 miles can increase your return.
Points to Consider:
Selling your vehicle 3,000 to 5,000 miles before these milestones hit can save you costly repairs.
Sell your vehicle if the total cost to keep the car is more than the trade-in value.
Maybe you own a car, truck, SUV, or van that you love and dread parting ways with it. You might enjoy this vehicle so much you’re willing to pay the increasing maintenance costs that coincide with its age. Consumer Reports provides a great guide of how much your vehicle will cost if you want it to last 200,000 miles or beyond. You can also ask a mechanic to inspect your car and forecast repair costs in order to make an informed decision.
Research your car’s reliability ratings with J.D. Power, Consumer Reports, and U.S. News & World Report. If your vehicle receives great scores, it’s one more reason to keep it!
Keeping your current car has its perks:
Maybe you’re looking for an option other than selling or keeping a used vehicle. An option that puts the vehicle to good use. There is a way to do that. Various non-profits accept vehicle donations. Donating your vehicle can:
Donating your vehicle can be fast, easy. Check out Greater Non Profits web site to research charities.
Many Rawhide programs for at-risk youth are funded through vehicle donations. On average, Rawhide donors receive a 48% higher tax deduction, and Rawhide has one of the highest dollars-to-program ratios among non-profits. See how we use these funds.
Other reasons to donate to Rawhide include:
If you have decided that donating your vehicle is the best choice, consider Rawhide. As Bart Starr once said, “I can’t think of a better legacy to leave our children than contributing to Rawhide and giving youth and families a brighter future.”
This car donor shares her story: