For most car owners, having a car is a double edged sword: on one hand it’s needed in order to get around town, to work and to do the numerous chores of a household like shopping and ferrying kids around.
On the other hand it’s expensive: gas, maintenance and insurance costs can mount up quite quickly, and that’s not including the initial purchase cost.
How then can you make your car help cover these costs and maybe even profit from them?
These 6 ways to make money off of your car can inspire you to turn your money sink into a money fountain!
Ridesharing has boomed in popularity since services like Uber and Lyft came on the scene. It used to be simply giving a work mate a ride (usually for free), but now you can pick up random strangers and charge them to ride along with you.
This could be to a destination you’re already heading to, or you could become your own one man taxi service and take people wherever they want to go.
Uber states that their drivers earn more than similar taxi drivers, but this is debatable. Either way, it’s still a great way of offsetting the cost of your vehicle with little hassle.
If you don’t fancy driving perfect strangers around town, how about letting them do it themselves?
Renting your car out to others is surprisingly easy, and safe. There are two broad ways of doing it, long term or short term.
Let’s say you head off on holiday a lot or take frequent business trips. Rather than pay to have your car in long term storage, there are companies that can hire out your car while you’re not using it.
Services such as Flightcar will not only pay you to have someone else use your car, but you get free parking too!
The earnings aren’t huge, but when you include the savings on parking, it turns into a tidy profit – all while you’re sunning yourself on the beach!
What if you don’t head off to sunnier climates for pleasure or business? Well, you can still rent out your car even while you’re at work!
Companies such as Getaround allows you to rent out your car for mere hours or on a daily basis, meaning that someone can get the benefit of using your car instead if it being parked at work or in an overly expensive car park.
According to the marketing efforts of Getaround, you could earn up to $10,000 per year for doing very little. Even half of that is likely worth it!
The main drawback with car renting is that to get the decent rates your car needs to be fairly new and in great condition.
If renting your car to strangers doesn’t appeal to you, or if you’re looking for a more passive way to make money from your car, you should consider advertising.
Not only is it a passive income, but you can easily earn several hundred dollars from it per month.
The main drawback is that your car will be plastered with advertising which may embarrass some people.
If though, you don’t care what your car looks like form the outside, and you commute every day, turning your car into a mobile billboard can help with the car’s upkeep costs.
Sif you’re interested, check out these sites:
4. Transporting goods
If you own a van, or vehicle with a lot of space, why not consider helping people out by delivering goods or transporting things across town?
If you are looking for a more recognizable brand how about Amazon? Their Amazon Flex service makes it easy to earn between $18-25 an hour while delivering goods for Amazon. Flexible working hours plus great pay equals a win!
If you want even more flexibility try TaskRabbit. This service covers a wide range of job types but includes one off local haulage jobs that pay.
Another alternative is Postmates, which also helps people to move goods and produce around town. They pay up to $25 per hour.
Typical services that Anyvan provide: you could be doing one of these!
5. Take away delivery
Why not go old school? You can potentially earn money from your local fast food establishments by delivering their orders. It might not pay great but it’s certainly a way to make extra cash.
If your keen to be more modern about things, you could try Caviar, which arranges drivers to deliver food from restaurants direct to peoples doors. Plus you can earn up to $25 per hour with flexible working times.
6. Grocery shopping and delivery
If you like the idea of delivering things but hate the idea of greasy food sticking out your car, then Instacart might be up your street.
Instacart enables people to get groceries delivered to their door, so your job would be to head to the stores, shop for their food and deliver it to them. You can potentially make a $1,000 a week doing this!
The Bottom Line
Your car does not have to be a money sink! Instead you can use it, either actively or passively to generate income for yourself. This could go back into the car or be used to fund a much needed vacation.
Do you already use your car to make money outside your normal work? If so let me know in the comments!