If you are considering selling your vehicle then you should also consider car donation. NJ is a state that has many charities that would benefit from your donation and the donation will provide you with many benefits as well.
The first thing that you should do if you have a car to sell is figure out approximately how much the car is worth. There are many resources available, including Kelly Blue Book, which can give you a good idea about the fair market value of your car.
However, if you have a car that is more than 10 years old, has well over a hundred thousand miles on it and is in poor working condition then you likely already know that your car is not worth much on the open market. In fact, it may cost you more to try to sell the car than the car is worth. When you sell your own car you need to consider advertising costs, the cost of the time you devote to selling your vehicle and any other costs such as towing or repair expenses. If your car is more likely to be used for parts than it is to be driven, then your expenses in trying to sell the car are likely higher than the amount of money that you can get for your car.
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That doesn�t mean, however, that a �junk car� is worthless. A better financial option for you might be to make a car donation. NJ and other states have many charities that are happy to receive any vehicle donation. Many charities will arrange to have the car picked up or towed from your home. They will then arrange to sell your vehicle at auction. Sometimes the cars are repaired and sold to be used on the road again. Other times they are sold for parts. The charity, or the vehicle donation agent that the charity uses, will make all of those decisions. All that you have to do is provide the charity or vehicle donation agent with the some basic information, the car and the title to the car.
Not only will you solve the problem of getting rid of a car that is not worth the cost of towing to the junk yard or advertising for sale but you will also realize a financial benefit. Within 30 days of picking up your car at your home, the charity or vehicle donation agent will provide you with written documentation concerning the sale or charitable use of your vehicle. You can then use that documentation to lower your tax burden by claiming a deduction on Schedule A of your 1040 for the year in which the vehicle was donated.
A junk car does not have to cost you money. In fact, you can save on your taxes and provide a financial benefit to your favorite charity by donating your car. So, it is to everyone�s benefit for you to consider car donation. NJ charities and you will share in the many benefits that donating your vehicle will provide.