Many Americans are holding on to their vehicles longer, workinghard to keep everything running smoothly with good upkeep andmaintenance. In fact, 82 percent of Americans intend to keep theirvehicle longer than originally planned due to the economy, a 2009survey indicates.

But situations are always changing, and if you’ve been waitingto get a new car for some time, you’re probably ready to startshopping immediately. Have you thought about what you want to dowith your old car?

Here are some of the options for what you can do with thevehicle:

* Trade it in: When you start negotiations with the car dealer,they’ll probably ask you if you have a trade in. The dealer willtake the value of your trade in and pit it against the value of thevehicle you plan to purchase to give you a reduced price. Onenegative is you might not get any value out of your trade in if youstill owe money on the vehicle.

* Sell it yourself: You could make more money if you sell yourcar yourself, because you can negotiate the deal you want.Negatives include the fact that you have to advertise the car andschedule appointments with potential buyers who want to come andlook at it. Plus you have to let them test drive the vehicle aswell.

* Donate your car: Donating your car removes the hassle ofnegotiation from getting rid of it. You can donate a car to support a charity ofyour choice through Donateacar.com. The charity actually receivesmoney from the sale of your car, and you don’t have to involveyourself in the sale at all. When your car or truck is picked up bya licensed, bonded and insured towing agency, you will receive athank-you receipt from the charity you chose. You can then list thefair market value of your vehicle (not to exceed $500) on your taxstatement for that year for a nice deduction. If by chance, yourvehicle sells for more than $500, you will receive a new receipt inthe mail after the sale from Donateacar.com.

More than 500 charities like United Way, USO and Boy Scouts ofAmerica benefit from cardonations and you can find the list atwww.donateacar.com/charities.php.

* Pass it on to another family member: This works similar to acar donation, but benefitsanother individual. Some tips to remember are: its probably a goodidea to get the title transferred to the new owner; if you owe anymoney on the car you will have to pay that back or work with thenew owner to get that paid off and you will not receive any taxbenefits for this donation.

Courtesy of ARAcontent