In 2017, there was a clear softening in used car prices across the country. This first became apparent in February and it was only the second time in two decades that this has happened. Not just that, but there was also a 1.6% drop in the wholesale prices of used cars, something unheard of since the recession. This raised the question, for many, on whether or not they should give to a donate a vehicle Green Bay charity or whether they should wait until prices pick up again.
Should You Give to a Donate a Vehicle Green Bay Charity?
The very simple fact is that, if you have an old car, you should donate it regardless of average and wholesale prices. That is because, with the exception of classic, vintage, or otherwise collectible cars, prices will only drop. It is believed that one of the reasons for this poor market is because so many vehicles will come off lease and it is simply impossible for the value of your car today to rise at any point in the future. In fact, experts predict that, with every year that passes, there will be a further 7% drop. So yes, you should donate a vehicle as soon as possible, or the charity will benefit even less from it.
Why Donating Is Better Than Selling
What this drop in value also means is that you would be much better off donating your car to charity than selling it for the money. You won't get much money in your pocket for it anyway, but a charity will be happy with anything they can raise. Plus, if you give to a donate a vehicle Green Bay charity that is 501(c)3 registered, you will be able to deduct the value of that donation from your taxable income and reduce your taxes. This means that although you may not get any cash in your hands, you will notice an increase in your disposable income. In other words, you will be financially better off, while at the same time helping your community develop and grow as well thanks to the important work done by the charity that you choose to support.
No comments:
Post a Comment