The novel coronavirus pandemic sent shockwaves across the globe, and everyone is still reeling from the impact it had on the economy. Because of this, you might be wondering if there are creative ways to make some extra money with your car, be it as a side-hustle or a full-time gig. After all, owning a car is an expensive investment, and you’re better off using it to make some extra cash rather than for personal use alone.
Luckily, there are so many ways to make money using your car. However, it can be challenging to figure out where to start. You can check this article to find out some of the interesting ideas on how you can make money with your car.
1. Carpooling With Workmates, Friends, Or Strangers
Are you spending more on gas than you need? If yes, see if you can find a carpooling buddy or two who can help split the cost of commuting. To find people to carpool with, you can visit different apps and websites that’ll match you up with people who live or work in the same area as you and need a ride.
Through carpooling, you’ll get to cut your travel costs significantly while still earning some money. These trips also help you interact with different people, making it easier to make friends with strangers with whom you’re carpooling. The money you’ve saved through carpooling can be channeled towards the vehicle’s maintenance. This helps prolong its life and avoid needing to sell it to Atlas Auto or any other vehicle buyer.
2. Advertising On Your Car
If you don’t want to drive people around but still want to make money with your car, you can consider using it as a billboard instead. There are advertising companies that will pay you when you put their ads on your car and drive around town as usual. This has become popular in recent years and involves painting or wrapping your car with an advertisement for a company or product.
Many companies are willing to pay large amounts of money for this type of advertising because it gets their name in front of thousands of people every day. You don’t require any special driving on your part, instead, you just drive around town as much as possible in areas where there are lots of potential customers for the advertiser. How much money you earn depends on your vehicle’s size and your daily commute.
3. Drive For A Ridesharing App
One of the most common ways to make money with your cars is by driving for ride-sharing services like Uber and Lyft. This is because driving your earning potential when driving for a ride-sharing app is immense which is also a can be a great way to earn money and pay for your car’s gas and maintenance.
Signing up as a driver for a ride-sharing service is easy. In most cases, you’ll need to be 25 years old or older and have at least three years of driving experience. You also need to complete a background check and vehicle inspection before getting approved to drive passengers around the city. The hardest part is waiting for your background check to be approved.
Once approved, you can start accepting ride requests. You can use either a smartphone app or let the company inform you of when you’re available to give rides.
There are some tips you need to know when you’re stating ride-sharing:
• Get The Right Insurance Coverage: If your car has only been used for personal duties, you’re probably not covered when driving for ride-sharing companies. Therefore, you need to get suitable insurance coverage.
• Be Prepared for New Expenses: The more you drive, the greater the wear and tear on your vehicle. Because of this, you may need to purchase new tires or have an oil change sooner than you would if you weren’t driving as much.
• Keep Track of Your Mileage: Deducting mileage expenses can save you a few bucks at tax time.
Once you’re ready to start earning, it’s up to you when and where you drive. This makes it a very flexible option if you want to earn extra cash on your terms.
4. Work With A Food Delivery Service
People nowadays want their food orders to be delivered right to their doorstep. As a car owner looking to supplement your income, this provides you with a way to make money with your car by delivering food. Some of the most popular food delivery services include UberEats, DoorDash, GrubHub, and Postmates.
You need to sign up and get approved first before you can start delivering within your locality with these apps to start earning. How much money you earn depends on the number of orders you complete.
As a driver, you can set your schedule and choose which deliveries/orders you would accept. You’re also paid weekly via direct deposit or debit card. The most important thing to remember is that you’re your own boss, and you make your schedule.
5. Offer Your Car For Rent
Rather than letting your car sit idle and dormant in your garage, you should consider renting it. This is where websites like Turo, Getaround, and Zipcar come in handy by linking you with strangers looking for a car to rent. You’re then allowed the freedom to set the daily price and terms, and the company will be in charge of handling all the logistics, including insurance.
To land a potential renter, you need to clean your car, take pictures of it, and list it online. After that, you have to deal with renters directly or through one of the renting companies.
There are some great ways you can do to make money with your car, and in many cases, it can be a fun way to earn a living. So, if you’re looking for some ideas on how to make a little extra money with your car, this detailed guide has outlined different ways you can earn money using your car. Remember that not every opportunity listed here will be right for you. Therefore, you should examine each option to see which one best suits your preferences.