“My Hyundai SUV served me well for nearly 10 years, mainly because I was very diligent with oil changes, upkeep and regular maintenance. Surely I would get a fair trade value…right?”
Hello again! If you recall from the previous article I’ve been inspired to share with you, the reader, all the amazing things that Goodwill® is able to offer our community. Some, well, actually nearly all of these incredible benefits and services, never entered my mind until I had the pleasure of meeting Deb, the local Manager of Marketing & Community Relations with Horizon Goodwill Industries.
I consider myself to be pretty up to date on current events; as a writer it’s required to have your finger on the pulse of what is occurring around you, but I never imagined this wonderful organization, with your help, could do what it does!
Take for example Goodwill’s vehicle donation program. Yes, you can even donate your unwanted car to help support your community. Pretty impressive, don’t you think? Let me explain how this process actually works:
Say you’re like me, an average Joe or Jane, and the family vehicle has served you well but it’s long overdue for a trade-in. You put a new car purchase off for as long as you can, because you really don’t want another monthly bill. Trust me, it’s inevitable; the day will come when you will need to visit your local car dealer. Don’t be surprised when they say your trade value is just about enough to cover one month of your family’s cellphone plan.
How can that be? You immediately respond that they must be mistaken; the tires alone are worth more than that! Watch your salesperson closely….you just might catch the hint of a smile, a stifled laugh, maybe even a chuckle produced by your overinflated expectations.
Is it really worth handing your vehicle over, all those cherished family memories included, for such a paltry sum? There is another option that will not only benefit you come tax season, it will also go a long way in helping your fellow community members find gainful employment. What is really a better decision; helping your community or the meager credit the dealership is offering on trade?
Imagine, receiving a tax deduction equal to the gross proceeds of your donated vehicle’s value! What if you can’t even get that clunker out of the garage? No worries, you will still get at least a $500 tax deduction. Yes, you read that right—at the very least, regardless of whether your used car isn’t even worth the price of a tow to the junkyard, you will still be eligible to deduct at least $500 come tax time. How can you beat that? I wish I were made aware of this vehicle donation option about a year ago.
As a father of four, I drove my vehicle for as long as I possibly could. The day came, however, when I knew it was time for a trade-in. My Hyundai SUV served me well for nearly 10 years, mainly because I was very diligent with oil changes, upkeep and regular maintenance. I took her to my dealership, a location where I’ve had a long history of being a customer. Surely I would get a fair trade value…right?
Wrong. I was informed Old Faithful was worth a fraction of what I expected. The salesperson I’ve known for years offered the whopping sum of $250 to take the car off of my hands.
What was I to do? If the experts tell me that’s all she was worth, who was I to debate the matter? If, however, I was aware that I could have helped local residents find gainful employment, and received a tax deduction, the choice would have been a no-brainer.
Consider donating your vehicle the next time you’re ready to upgrade. Isn’t the ability to help others while earning a little something to lower your debt to Uncle Sam a better choice than basically giving away your car? What will benefit you more: a meager trade-in value equating to a tank of gas or the ongoing ability to provide for your community?