How to Get Rid of a Brand New Car

by Contributor

So you've bought a car that you realize you don't need, can't afford or on which you'd like to turn a profit. All of these things can be accomplished by getting rid of your brand-new car. Reaching this goal depends on what your reasons are for getting rid of the car and how flexible you are on the price.

Sell your brand-new car if you need to make money. For many people this is the best option, because it gives them an opportunity to make back a substantial portion of what they paid for it. Dealerships are always purchasing new cars. However, many people find they can make more by selling the cars themselves either by placing ads or putting signs in the windows.

Donate your new car to a charity. Many non-profit organizations have begun taking automobile donations as a way to increase revenue. By donating a new car, you would possibly be entitled to a substantial tax write-off at the end of the year (see Resources below).

Sign your title over to a friend or family member if you are not interested in selling or donating your car. This method provides you with no financial advantage, but may help a person who needs a new car more than you do.

Trade your new car in for another automobile. Most dealerships gladly take new cars and trade people cars of equal or lesser value.

Ditch your new car if you need to get rid of it in a hurry. Remove all paperwork from the glove box, unscrew the license plates and pry out the VIN number from the dash, so there is no trace of your ownership.

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