When to Donate Used Car Madison for Maximum Benefit

There are a few tried and true options for unloading a used car that is no longer wanted.  These would include trading it in at a dealership as a part of the purchase price of a new vehicle, selling it to a private party, or giving it to a friend or relative who is in need of transportation.  While some of these processes are easier than others, all of them have a few down sides.  New car dealerships are notorious for making low-ball offers to individuals trading in a used vehicle. Private sales require time and money to facilitate.  There is the initial expense of placing an advertisement in a newspaper or an online forum, and later, the necessity to take time away from work and family activities to meet with potential buyers who may also present a low-ball offer, or worse, not show up for the meeting at all.

Donate a Car Instead

All of the options mentioned above will be a good fit for some folks.  Others, however, may want to consider the option to donate used car Madison.  This is a good choice when the vehicle in question has a very low value, or when the donor wants to use the donation as an opportunity to gain an additional tax deduction at the end of the year.

Here are a couple of  situations in which it is somewhat of a no-brainer to donate car Madison, to a charity with a site like https://www.rawhide.org.

• The car is very old or needs a lot of repairs.  Federal tax law allows donors to claim a minimum itemized deduction of $500 for any donation of a vehicle to a certified, non-profit organization.  This is a good route to go for vehicles that are worth less than $500.
• When an organization actually uses the vehicle donations in carrying out its mission, this can be a very good deal for the donor because they will be able to claim the entire fair market value of the vehicle as a tax deduction.  An example would be a charity that helps job seekers to improve their self-sufficiency by offering them resources, such as a car, that will make them more successful getting into well-paying work.