Unique ways to make money with your car - Experts Roundup

12th June 2019
Unique ways to earn money with your car

 

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...

 

#1 Rent your car out

Logan-Allec-CPA-227x300One 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   

chaya-car-mechanics-256x300

One of my favourite ways to make money with a car is to help people move smaller furniture. Take a look at Facebook Marketplace or Craigslist: See all of those tables, couches and other furniture items? When people go to buy them, they often look for someone with an SUV or truck to help them transport it.
 
Post your service on local Facebook groups and even on Craigslist if you dare. Don't worry too much about the size of your vehicle. It's amazing how much can fit into the back of a small SUV. Tell the people what you are offering, what your rates are and what kind of car you drive. 
 
And boom. You're in business. Word of mouth travels fast and in no time you'll have a few gigs a week supplementing your income.
 
- Chaya Milchtein, Mechanic Shop Femme
 
 
 
 #3 Carvertise 
 
Lou Haverty Headshot-ACarvertise 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.
 
 
 
 
#4 Wrap your car 
 
Marco Baatjes headshot
One of the smartest ways to make money with your car is in the form of wrapping your car in an advertisement. It’s not the most obvious, but businesses are willing to do this as a marketing strategy to drive more business to their companies. You could negotiate a flat monthly rate of $500 for a certain period with that business. The good thing about this business idea is that the advertisement can be easily removed when your contract expires (providing the signage was professionally installed), meaning your car would look as if it never had any advertisement on it.
 
- Marco Baatjes, The Appreneur Ltd
 
 
 
#5 Carsharing 
 
College investor headshot
As an example of how it works, Maven car sharing is for owners (with GM models 2015 or newer) to list their cars for short-term rentals. When a Maven customer reserves the vehicle, the car owner drops the car off at a designated location, leaving them in a lockbox. The person reserving the car retrieves the keys, drives for a set period of time, and returns the vehicle to the designated location. Maven covers the cost of insurance while renters drive the car. 

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

Stacey Caprio headshot

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 

Mr Centsible headshot

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

Patricia-Financial Marvel headshot

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

Tony Arevalo headshot

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

 
 
 
 
 #10 Wear and tear when carpooling 
 
Virginia's headshot
The easiest way to make some money from your car is by car-pooling for a fee, or offering rides through a ride-sharing service. If you drive a truck with a flatbed it's also easy to make money by helping people move and transport large or heavy items. The best advice I have is to consider the insurance, gas, and time when they determine what to charge. However, people forget to account for the wear and tear and added maintenance for the car, which should be included in your price as well.
 
- Virginia Hamill, Fitsmallbusiness
 
 
 
#11 Turn your car into art 
 
mohammed soni 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

 
 
 
 

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