If you own a vehicle that is just sitting in your driveway or on your property, you may be wondering what options you have for getting rid of it. Thankfully, several solutions will allow you to get a few bucks out of an old car or dispose of a junk vehicle.
Here are three options that may work for you. The choice you make will depend on your vehicle’s condition and how much time you are willing to put into getting rid of it.
Try to Sell It Yourself
This option will allow you to sell your vehicle for what it is worth or perhaps a bit more. However, it will require some work on your part. Selling it yourself may involve using a traditional method, like a newspaper ad. However, most buyers are going to be looking online. Try websites like Facebook Marketplace or Craigslist. You can use these options to post an ad for free to sell your junk vehicle.
Another option is to take it to a dealership. It is at least worth your time to make a phone call or two to see what a dealership may be willing to pay for your old vehicle. If you go the route of working with the dealership, it could be an excellent time to trade in the old vehicle and get a new one. Your old junk car may be worth at least a few bucks that can go toward a new vehicle.
Donate Your Old Car
If selling your vehicle or trading it in is not worth the time or money, consider donating your junk car. Lots of nonprofit organizations will accept a donation of an old vehicle to support their cause.
When you donate your vehicle to a charity or nonprofit organization, you can feel good about giving to a cause you believe in. You will also benefit through a tax deduction the next time you file.
The IRS allows individuals who have donated a vehicle to claim a tax deduction. The deduction will likely be equal to what the vehicle would sell for at an auction. If the charity does not auction the car, you will claim $500 or the car’s fair market value. Make sure you consult a tax professional before taking this deduction when filing your taxes after donating a junk vehicle.
Junk an Old Car
Junking a vehicle makes sense if it doesn’t have much life left in it or is in need of so many repairs that it is simply not worth putting money into it. A junk removal service will pay for towing it off your property. The condition of the vehicle will be a factor in getting any money out of it. Ultimately, this option is beneficial for individuals who want to be done with an old car and don’t want the responsibility of it anymore.
Make sure to weigh the pros and cons of selling or junking an old car. You want to find a disposal method that is right for your circumstances. If possible, you will be able to get at least a few bucks out of it or donate it to a cause you believe in.