How to Make Money by Utilizing Your Car

  • January 18, 2019

If you're reading this, I'm earning money. Thanks for helping to feed my family. Please see our disclosure for more information. Also, any advice provided is for informational purposes only. I'm not a CPA, lawyer, or doctor, although my parents wanted me to be all three. So, talk to a professional before acting on anything you read below.

How to Make Money by Utilizing Your Car

If you are always looking for ways to try and boost your income, then your car can be an incredible way for you to do this.

Get in the Carpool Lane

If you know that there are other people who are travelling to the same destination as you, then why not carpool? There are tons of sites out there that help you do this, not to mention that they are completely safe as well. All you have to do is sign up to your chosen site, add your start and end point, and then choose your destination. When someone wants a lift, you will then be notified and you can even choose how you want to be paid. It really is as simple as that. How much money you earn will largely depend on the journey you are making. For example, a weekend trip may net you way more profit when compared to a 5-minute drop-off, but either way, it’s a nice way for you to cut down on your travel cost while making money. The only cons are if you’re offering a lift to someone, you can’t choose when you leave. Also, if nobody is going your way then you won’t be able to make any money that day.

Try and Rent out your Car

If you don’t use your car during the day, then why not rent it out? There are tons of websites out there that give you the chance to do this, not to mention that you also get the final say as to who takes your car before they make the payment. As if that wasn’t enough, you also have the option of handing the keys over in person. Another way around this would be for you to install a smart box as this will give everyone you need remote access. How much money you earn will largely depend on the make and model of your car, the annual mileage it has done, the value of the car and how much time you are willing to rent it out for.

Advertise for Businesses

There are so many sites out there that will match you with an advertiser. You can add stickers to the side of your car and even onto your windows as well. the best thing about this is that they can be removed at the end of the campaign and it won’t depreciate the value of your car at all. How much you earn from this can depend on the length, how often you are out driving your car and the advertiser who you are able to connect with. That being said, it’s a great way for you to make money because you don’t have to do anything extra and your car will essentially be a moving billboard. If your car is in poor condition because you have been in an accident, then this option may not be viable. If that is the case then get in contact with a car accident lawyer.

Sell your Parking Spot

You would be surprised at how many people find it hard to get a parking spot when they are out and on the move. If you are able to connect with someone who needs a space then you can make a significant amount of money for this. This is especially the case if you live near to a city centre, an airport or even next to an event arena. Once you are signed up to a site, you can get paid hourly or even monthly if you’d prefer.

Insurance

If you know someone who is young, then there is a chance that their insurance is incredibly high. This can be very frustrating for them as it may limit their ability to drive. If you put them on your policy and let them drive your car from time to time, then this can lower the cost of their insurance and you may even be able to make a profit as a result. You can lend your assistance when it comes to helping them on the road and they get the bonus of not having a car to maintain. This is a very simple process, but you should only do it with family or people you know. The main reason for this is because if they are involved in an accident, you need to know who they are and their personal details. This also makes it easier for you to feel confident in your decision regarding your car.

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