Buy A Donated Car
You probably know by know that you can donate your used car to a charitable organization. What most people don’t know is that these donated cars can also be bought by consumers at a much discounted price. If you want to buy a donated car, here is what you should do:
First of all, you should visit the Opportunity Cars website, where you will find the organizations in your area that sell these donated vehicles to those in need. Not all of the charities that you will find in the phonebook sell donated cars so this website will be of greater assistance.
On top of the homepage, access the “find a program” link and use the search option to locate programs in your area. You have the possibility to check by state, zip code or by city name. Click “go” and now you will have to browse through the options on the “program locations” page that will appear after the search ends. You will find links for each program listed. By clicking on them you will obtain contact info for the program.
Now you should click on the link for the home page of the program that you have selected. Many of these links will take your right to the info you need for buying a donated car from that organization while others will take you to the home page. It would be best to read any information about the donated car, if available. This information will have requirements you must meet for buying the car as well as help you can receive.
After that, contact the organization that you have selected about purchasing a donated car. The contact information is usually place on the home page of the organization or on the aforementioned Opportunity Cars website.
You will need to get financial counseling in order to prepare you for car ownership. Many of these car ownership programs developed by the charity organizations offer financial planning, credit counseling, budget training along with referrals for service providers, insurance, car repairs when you obtain your donated vehicle.
The general requirements for purchasing a donated car are that you are at least 18-years-old, are employed for more than nine months at your job or you are taking at least nine credit hours at a post-secondary school. In addition, you must be unable to qualify for a loan through a bank or any other financial institution. Depending upon the organization, other qualifications might be required in order to be eligible to buy a donated car.
The moment after you have bought the donated vehicle, you need to start thinking about a budget. In your savings account, put aside an emergency fund for unscheduled repairs that may or may not occur. In addition, every month, put some money away for gas and scheduled maintenance. If you take a loan through the donation charity, you need to make sure that you put aside enough money each month to make the payments on time.
Needless to say, that when you are purchasing a vehicle through a charity organization, you mustn’t forget about the basic requirements for putting the car on the road in your state. In most cases, the charity organizations do not cover the costs for registering and insuring the car so you will be responsible for these once you obtain the car. However, if you cannot afford to pay, many of the organizations will help you by offering a low-interest loan.
Source: Opportunity Cars
You might also want to read:
I am looking to buying a donated car and don’t know where to begin
POST A COMMENT