Check out some confirmed ways to make extra money on the side with your car.
Cars are indeed a costly thing to own and that’s why a low and middle working class need some ways to make extra money your car. They can drain your funds quite quickly with the whole investing of a large sum during the purchase, as well as spending thousands on maintenance and gas. Not to mention the value that decreases over time even while it’s just sitting inside a garage!
Fortunately, if you happen to own a newer model, your vehicle doesn’t have to be so unprofitable after all! There are certain ways to make extra money with your car that can allow you to pay all the bills and set some cash aside!
How to Make Extra Money with Your Car?
As life is relatively unpredictable, and you never know when you might need the extra cash, setting up an emergency fund is a good idea. Earning additional income with the help of your car could be something that allows you to do so.
There are a couple of good options that can help you jump-start your car’s monetizing potential.
1. Explore Ridesharing Apps
If looking to transform your car into a money-making device, driving people around might just be it for you! Earning additional income with the help of ridesharing apps isn’t all that complicated. The only requirements are that you should be at least 21 years old and have a valid driver’s license.
You would probably need to pass the security check as well, after which you can finally start your newly-found career.
The wide variety of platforms offering this kind of service, with the most popular ones nowadays being Uber and Lyft, ensure you will have plenty of work on your hands in no time!
There are certain benefits to making extra cash as a ridesharing driver, such as:
● Being able to plan your own hours
● Not having to deal with a fixed schedule
● Earning as much as $35 per hour
This type of job could be ideal for university students who happen to be of age, as the lack of money is something most of them are familiar with. When we take into consideration how hard student loans are to pay off. It’s totally understandable that youngsters are, these days, looking for ways to earn additional income.
However, if they do not meet all the necessary criteria, there are plenty of other online jobs for them to do.
2. Think About Becoming a Delivery Driver
Another popular way of earning extra cash is doing deliveries. Depending on the app you decide upon using, you can deliver just about anything! From furniture, all the way to groceries and food.
Some popular apps that people use to offer their services include TaskRabbit, Postmates, InstaCart, UberEats, and Shipt. There are advantages to working for all of them. It’s up to you to choose the one that best suits your needs.
3. Consider Renting Your garage or a Parking Spot for Some Extra Money
This one is really simple! All you need is a parking space or a garage, and you can start earning passive cash straight away. It might not be a huge amount, but still, if you live in a good part of a city, or near the airport. For example, your parking space could be particularly attractive to potential renters.
Websites such as ParkLet and Spacer allow you to start providing others with this kind of service.
Of course, while renting out your garage can be a source of additional income, there is one thing you should worry about: what to do with your own automobile during the process?
Well, luckily, there’s a solution! To keep your precious car safe when not in use, store it in the vehicle storage. There are many different storage types available, so pick one depending on your specific desires.
4. Start Renting Out Your Car
In addition to renting out your parking spot, renting out your personal vehicle can also be quite a decent way of acquiring some passive income. Two of the widely used services, HyreCar and Turo, allow you to make extra money while not doing much, really.
Even though both are designed with car leasing in mind, they operate slightly differently. Turo allows you to meet with potential renters virtually anywhere, and the reason behind getting a rental doesn’t matter.
However, with HyreCar, you’d be leasing your automobile to those interested in becoming Uber or Lyft drivers. Once the owner gets the rental request from a particular individual, he/she must accept it within the next 24 hours.
No matter the services of which company you end up using, one thing is for sure. Both can give you an opportunity to earn while not using your car. Heck, you could even be making money from your holiday! Think about the best of both worlds!
5. Let Advertisers Place Ads on Your Vehicle
Services such as Wrapify and Rollin’ Ads allow you to turn your automobile into a commercial on wheels. These services operate by connecting you with companies looking to advertise their products.
Depending on whether you like the brand or not, you can accept or refuse to place the ad on your car. If you opt for wrapping your vehicle with promotional content, bear in mind that the amount of cash you’d be making depends on several factors, such as the mileage you cover, as well as the car’s production year.
Ultimately, the newer the model, the higher the salary.
6. Carpool Your Way to Extra Money
While not exactly a way to make extra money with your car, carpooling is still worth mentioning as it helps you save it! By choosing to share your ride with other people, you could be cutting your fuel expenses by more than a half each year!
In addition, it could also help keep the environment somewhat cleaner. Of course, it’s worth mentioning that carpooling isn’t for everyone. However, if you find yourself interested in this type of transport, you can sign up with websites like BlaBlaCar or LiftShare.
And who knows… if the folks you are giving a lift to happen to be chatty, you might even end up making good friends during the whole process.