Next to your home, your car is probably one of the biggest expenses you have. Wouldn’t it be great if you could use the car itself to help offset that expense?
If you’ve ever thought about that, then here’s some good news: There are a number of ways you can use your car to make some extra cash. Below are some you might want to consider:
Make Your Vehicle a Moving Billboard
If you like attention, you might like the idea of turning your vehicle into a moving advertisement and getting paid just to drive it.
Companies like MyFreeCar.com help pair advertisers with drivers who are willing to have their vehicles wrapped in a vinyl ad campaign. Advertisers are looking for drivers in certain locations whose driving habits will expose their branded campaigns to the desired demographic group.
There are certain criteria to determine whether you are chosen and how much you will earn, including the age and make of your vehicle, the distance you drive and where you live. Payments are made monthly. There have been some scams related to this concept, so it’s important to note that a reputable company will not charge a signup fee or expect you to forward payments to anyone else.
Become a Freelance Taxi Driver
If you don’t mind sharing your car with strangers, you can make some extra cash by picking up a rider or two. A new trend has several companies pairing people who need rides with people who are willing to transport them — for a price, of course.
Companies like Uber and Lyft connect riders and drivers through an app. Driver requirements are fairly stringent and include minimum age limits, a clean driving record, a newer model car, current insurance and a background check. Payment is made through the app, and the company takes a percentage of the fare.
Rent Your Car Out
In addition to hiring yourself out as a driver, you can let your car do the work by turning it into a rental. For a percentage of your profits, agencies such as Turo and Getaround help you lease your car when it’s not in use.
To qualify, you must keep your vehicle maintained and meet age, mileage, car year and other various criteria. You choose your schedule, so this is a great way to put your car to work when you don’t need it.
Another company, FlightCar, allows you free parking in their lot at the airport and rents your car out for you while you’re away. You’re paid by the mile at a rate based on the make, model and year of your car.
Be the Man With a Van – or Truck
Everyone has the need to transport large objects at one time or another, and renting a truck can be expensive. If you have a van, truck or other sizeable vehicle, you can haul oversized objects for clients, saving them money while you pad your wallet.
Start an Errand and Delivery Service
If you like driving and running around, this might be the one for you. You can help busy people with errands or make deliveries — and earn money doing it. TaskRabbit and Postmates offer services such as these, and you can sign up as a tasker for help finding clients.
Some of these services are only available in certain areas, so you may have to do some digging to find the one that’s right for you.
Also be sure to do the math and check the insurance coverage before you embark on any of these projects. All maintenance costs and gas come out of your pocket, and while many of these companies provide additional insurance, you may run into some unexpected issues, so it’s important to know exactly what you’re getting into before you decide to let your car earn its keep.