Are you looking for a bit of extra cash in the piggy bank, an extra revenue stream, or to pay off that last IOU to a friend? Believe it or not, you can use your car for many things as well as getting from A to B. YourParkingSpace has asked the experts on how to turn your car into money on wheels...
Unique ways to make money with your car
#1 Rent your car out
One smart way to make money with your car is to rent it out when you're not using it. There are websites and apps these days such as Turo and GetAround that match your vehicle with people seeking to rent it for as short as a few hours or as long as a week. I know what you're thinking: what if someone totals my car? Well, the apps or websites that serve as the middleman between car owners and those looking to rent a car typically have liability insurance coverage of up to $1 million, so you can put your mind at ease.
- Allec Logan, MoneyDoneRight.com
#2 Become a furniture removal service
Carvertise is an interesting way to make some extra money on your daily commute. If you're willing to put advertisements on your car, you have a 2008 car or newer and drive at least 30 miles a day, you can earn up to $100 extra per month. It also helps if you live in a populated area. I live in Philadelphia and actually looked into it for my car because I saw other drivers around town using it.
Right now, Maven is more limited than Turo in the areas they operate. However, both are worth looking into, as owners have reported making around $500 a month.
- Robert Farrington, TheCollegeInvestor.com
#6 Sticker up your car
One innovative way to make money with your car that doesn't require much effort or time is to use a car ad placement service such as StickerRide, that connects you with advertisers who pay you to place ad stickers on your car. This is a great way to monetize your car without having to spend time doing anything other than your usual routine, as long as you don't mind the potential embarrassment of driving around with advertising stickers on your car.
- Stacey Caprio, dealsscoop.com
#7 Earn points as you drive
I've started using a new app called HyperDrive that gives you points as you drive. There are also additional quests and challenges you can participate in to earn extra points. The points can then be redeemed for gift cards. It pays pennies and takes forever to even get enough points to redeem for anything, but if you drive a lot (like a trucker or Amazon Flex or Uber driver) it is a passive way to make some money while you drive.
- Jonathan, aka Mr Centsible, mrcentsible.com
#8 Become an Uber driver
The easiest way to make extra money from your car is to become a driver for Uber or Lyft. This is a great flexible option to generate a side income and demand for ridesharing is growing rapidly. Depending on how many hours you want to drive per week you can earn a substantial income from this side hustle. Even if you work a full-time job you can still fit in a few hours before or after work or even during the weekend. It's a great side hustle to make money with your car as you can choose exactly when and where you want to work. It really doesn't get much better.
- Patricia Russell, FinanceMarvel
#9 Food delivery
There are plenty of ways to make extra cash with your car! If you're a people person, driving with Uber or Lyft is a perfect way for you to make some extra cash to add to your paycheck.
On the other hand, if you prefer being alone, you can try a part-time food delivery. Many food businesses are looking for some extra deliverers to make their customers happy.
- Tony Arevalo, Carsurance.net
Here in India, we always try our best to get maximum benefits from our money invested and that even the last drop of shampoo does not go to waste.To make money from your vehicle, you can conduct part-time driving lessons. If you are not using the car regularly, then renting it to a local travel agency is a good option. It's similar to renting out your apartment.
Particularly in India, our weddings are very important and we like to use luxury cars in the procession. So if you own a luxury or vintage car, you can even rent it out for these special occasions.
If you are a creative person, turn your car into an eye-catching painting or moving art installation, and it will be the talk of the town. If your commodity becomes famous, it can create organic demand and can be used for many purposes to promote some other brand or product, etc.
Lastly, if you own a car which demands lots of maintenance and cost, then the best way to earn money from it is to sell the car. Because money saved is money earned.
- Mohammed Soni, GetSetGo
#12 Car advertising
You can advertise on your car for some seriously passive income. Companies such as Carvertise and Wrapify will pay to put a wrap on your car, and then pay you to simply drive your regular routes with the advertisements on your car. If you're uncomfortable with the content of an ad, you can have the right to say 'no'. Most companies pay you between $100-$400 a month to advertise on your car. Not too bad for a pretty interesting way to make money with your car.
I advertised with stickers on my car via carvertise and similar services.
I gave people rides b4 uber was a thing. I went to a commuter college, so no one really lived on campus. I would pick them up and drive them to school. I would get paid $150 a month per person for this service (includes gas). I had 3 riders with me and our schedules were pretty much the same but in different majors. We lived in the same neighbourhood, so that made it very convenient. I was the only one with a car.
I started working promo gigs and would have to travel all over the place. I needed a car to carry the tables, posters, and other things I would need for the gig. It was well worth it. Each gig paid me around $120 for a few hours of work. A car was required to work these events to transport materials.
- Alexandra Tran, Hollingsworth
