Sell, Trade or Donate Your Car?

You found the new car of your dreams—now what do you do with your current vehicle? Most owners choose to sell it themselves, trade it in to the dealer or donate it to a charity. Each can be a good option based on your time and financial needs.

Private Sale

Selling your car yourself has traditionally been viewed as a hassle because it takes longer and seems more difficult than trading in or donating. However, internet sites like CarSoup.com have made selling your vehicle yourself easier and often more profitable. At CarSoup.com you can find many tools for private sellers such as photos, vehicle history reports and a pricing calculator to help price your car in your market.

Trade-In

Trading in your car is the quickest option. The dealer looks at the age, condition and current value of the model to determine its trade-in value, which is then deducted from the price of your new vehicle. The whole process is pretty painless and can often be completed in the same day. At CarSoup.com, you can even have dealers bid for your car online with its Sell it Now feature. While you might not receive quite as much as if you sold it yourself, the time savings and potential tax savings can minimize the difference.

Donate

Donating to charity isn’t only an attractive option because of the good it does for the foundation, but can also help you financially. The IRS recognizes certain charities and will often grant you a tax write-off for the value of your car. Just make sure the charity that you choose is both trustworthy and accepted by the IRS. At CarSoup.com, you can find eligible charities and arrange vehicle pickup online. This option won’t give you a profit in the traditional sense, but is a quick way to get rid of your car, can help reduce your taxes and makes you feel good.

Whether you’re looking for the best price or just want to unload your car fast, you’ll find plenty of options. With a little bit of homework, you’ll find the option that’s right for you.