We recognize that you have many options when you are looking to sell or donate a used vehicle. Chief among them are trade-ins for a new car purchase and charitable vehicle donations.
Over the last decade vehicle donation programs have tapped into the unique generosity of the American people, not to mention the very human desire to pay fewer taxes. We encourage people to support charity, and AutoRev and its staff are personally dedicated to the same effort. Our view is a bit different, however, when it comes to recycling and donating vehicles.
The majority of charities actually hire a company like us to take care of vehicle pick-ups. In fact, we're proud to be the car removal company for a variety of great charitable organizations. In these cases, the donated vehicle normally provides a $500 tax deduction for the donor, which results in a $100 to $200 in actual tax savings.
Car dealers are on the opposite end of the spectrum from charitable vehicle donations, and the second of the two most popular places to get rid of an old car.
While there are certainly honorable people selling cars in the U.S., there are also reasons why people make jokes about doing business with a car dealer.
As an example, there are times that car dealers advertise that they will give you at least $5,000 for any trade in, even if you have to push the wrecked vehicle onto the lot.
There are as many occasions when your trade-in has a ''blue book'' value of several thousand dollars, and your dealer offers far less.
The point is that car dealers will always make a profit. They'll overvalue a trade-in to get you onto their lot, they'll cut the sticker price to make you feel like you got a deal, or they'll provide expensive financing to recoup the overvalued trade-in or overly generous price.
No matter how they do it, they'll make money on your trade-in. We would recommend that you get the biggest cash offer possible for your vehicle, and then go to the dealer with cash in hand. Down payments motivate car dealers and limit financing costs.
Our point is simple; if you want to make the biggest impact for a charity, get the biggest tax deduction, or earn the most value for a used car when you need to buy a new one, AutoRev is the best option.