Having a car is a double-edged sword–cars are a necessity for many but the price to maintain a road-worthy vehicle may be a too steep price to pay. If you have a vehicle and are trying to make money with it, then here are five fast ways to help you earn money with your car.
See also: How The Cash For Cars Process Works
How to Earn Money with Your Car
Apps for on-demand driving and delivery services, which allow members to work when they want, are available in cities across the country. Pay varies, but with the right app, you can earn money by driving even just a few hours a week or putting your car to work for you.
1. Sell you car
If you end up not able to justify the price of having a vehicle, selling it is the simplest and fastest way to turn your asset into cash. If you are an occasional driver, the price of insurance and maintenance might not be worth the luxury of owning a car. This is particularly true if you reside in a major city and have access to public transport. This is also an option if you live in a town in which you can walk or bicycle to the places you will need to go, effectively making car ownership unnecessary.
Selling your car through the internet or print classifieds attracts potential buyers and usually gets you the most money, effectively avoiding the middleman. However, you might feel confident taking it to a used car dealer with a history of selling. Though this might guarantee a sale, the salesperson will request a percentage of their profit.
Selling your car is the best choice if you’re in a situation where you need cash quickly and all at once in a lump sum. The drawback is that you lose your vehicle.
Related: How to Sell Your Car Quickly and for a Good Price
2. Make your car a taxi
Additionally, it is possible to earn money with your car without having to sell it. If you can’t go without a car, becoming a part-time driver for one of the many ride-hailing services may actually make you big bucks. With the growth in popularity of services like Uber and Lyft, car owners can now register to become drivers using their own car for a taxi service. This permits you to be flexible with your time and only drive if you need to, effectively turning your car into a money-making machine.
It can be applied as a supplemental income or to offset the expense of operating your vehicle and help to pay for gas, insurance, and maintenance.
With time, this option will produce the most money whilst also letting you maintain a steady influx of money. It is important to note, however, that this only works if you reside in a city which has a high requirement for rides–many cab services do not extend to small cities.
Want to make more money as you push visitors to their destinations? Subscribe to Vugo or another service that will supply you with advertising materials which will be visible to your passengers during their ride. Each time a passenger interacts with one of your advertisements, you are going to receive reimbursement, which may add up quickly if you are an active driver.
Related: 5 Best Cars for Driving with Uber or Lyft
3. Rent your car out
If you can not afford to sell your vehicle and don’t have enough opportunity to be a part-time driver, it is time to get creative if you are trying to earn some money from your car or truck. letting other people use your car for a fee, for example, is an excellent way to offset the cost of vehicle ownership and they will thank you when they do not have to pay high rental prices.
Likewise, you can sign up as a rental car start-up that works from airports. This ride-sharing system allows travelers to use your car and you’re paid by the mile. There are even sites like Turo that let you rent your vehicle to strangers. They pick it up and drop it off at a predetermined location and you can earn money while you do something else completely.
- Turo is just another service which lets you rent your vehicle Airbnb-style. The car needs to be from 2005 or newer, have a clean title, and have less than 130,000 miles on it. There is a cool calculator on the website that lets you plug into some fundamentals about your car and discover how much you might earn.
- Getaround, similarly, permits you to rent out your car while it would otherwise be parked! Getaround covers insurance, vets people, and installs a system that allows people to get into your car with no key. How much you can make is dependent upon how good your car is, but it may be thousands of dollars annually. (Getaround takes 40% of rental fees, and you get 60%, paid out once per month.)
4. Make money with your car advertising
Another terrific way to earn a little money from vehicle ownership would be to advertise on your car. Many companies and businesses are prepared to pay drivers to get their car wrapped in their advertisements to get visibility in an improbable way. This is a fantastic alternative if you can not lend out your vehicle, provided that you are comfortable with the business you are advertising is plastered on your ride.
Wrapify is an app-based service which lets you connect with prospective advertisers. As soon as you register and download the program, the support logs in which you go for some time. Then it matches you with a campaign for local or national businesses, and partly or fully “wraps” your car (don’t worry — the wraps are removable and will not hurt the car). Based upon your car, your place, and how much of your auto is insured, you can make 100 to $450 per month without doing anything you do not normally do.
Whether you are driving to work, picking up the children, or running errands, your vehicle could be putting cash in your pocket by marketing a corporation’s services. By doing this, you essentially turn your car into a moving billboard. Wherever you go, you expose their organization to prospective customers. On top of that, you really don’t need to change your driving habits. Just keep using your vehicle as you always do and you’re going to earn money at exactly the exact same time.
5. Make food deliveries with your car
Food delivery services let customers purchase items from local eateries and pay directly from within the app. The programs have varying cover structures and incentives for drivers, so check the platform to get information when you sign up.
- GrubHub: GrubHub claims to have “more orders than any other platform” and is available in over 1,200 U.S. cities. It states its top earners have made up to $25 per hour. Drivers are paid a fee for every delivery, and a mileage-based fee and tips. In some towns, they could be eligible for a minimum hourly rate.
- UberEats: Uber’s food delivery agency pays drivers based on each pickup and drop-off, in addition to trip mileage, less Uber’s fee. Specific rates vary by town. Drivers can get tips and a heightened “increase” fare during active times. In some cities, you have to be an Uber driver to combine, but in others, it is possible to join UberEATS directly. And, while UberX automobiles must be 2002 models or newer, UberEATS automobiles can be 1997 or newer in several cities.
- DoorDash: If you wish to start earning fast, try DoorDash. Drivers will need to be at least 18 years old and pass a background check, but there aren’t any car requirements, and in some cities, you can do your orientation online. Dashers make a minimum per delivery, and a”pay boost” — determined from the space and complexity of the trip — and hints. Check your city’s pay structure to find out if DoorDash will guarantee your earnings.
What if you have an old car?
I discovered some ways you can earn money with your car — even when the bumper doesn’t fit, and you can not open the passenger-side door when it rains.
Drive your old car around town, and help busy parents and professionals by providing groceries through Instacart. A lot of people dread a visit to the supermarket so much they are willing to pay someone to do it for them.
They will put their shopping list on Instacart, and you make money being their own personal shopper.
You will work with Instacart to set your own hours so that you can work as little or much as you desire. Between your commission and tips, you could earn up to $25 an hour and do your supermarket shopping to boot!
Earn $18-$25/Hour Delivering for Amazon
Through Amazon Flex, Prime members can order and get items from Prime NOW in one hour. And it is hiring drivers! As it rolls out around the country, Amazon is hiring drivers to deliver goods in many different cities.
As a delivery driver, you will work through the Amazon Flex app for Android to set up your schedule or pick up extra shifts when they are available — whatever you prefer.
You need to be at least 21 years old and supply your own vehicle (but nobody says it needs to be pretty). Pay will vary by location, but Amazon says it is between $18 and $25 an hour. Not bad for a side hustle!
Related: 7 Simple Ways to Keep Your Old Car Running Forever
Put Your Car to Work, Today
Automobile ownership can be a blessing and a curse–although pricey, cars enable the freedom to travel at will. Whether preserving ownership of your vehicle or selling it, there are numerous ways to make it work for you, even by turning one of your most precious assets into money.