How to Make Extra Money with Your Car
If you’re looking to make some additional income, why not do it with something you use daily? Your car can be a giant cash cow, especially if it’s fuel-efficient. Countless people are making full-time incomes just by driving their cars alone, and you can too. If you’re a great driver, this can be a spectacular side hustle for you. Let’s talk about some ways for you to make extra money with your car and add additional funds into your online only banking account.
Before we start, did you know that when you purchase cars at dealerships, the auto dealer will usually have a sticker on the window of the vehicle that provides important details about the car for sale? You can purchase premium dealer window stickers from MBR Marketing at https://mbrmarketing.com/dealer-supplies/stock-window-stickers.
Ridesharing Apps
Ridesharing apps such as Uber and Lyft have become incredibly popular nowadays and for good reasons. After a simple signup process, you can start picking up and dropping off customers to earn cash instantly. It really doesn’t get much easier than that. To register, you’ll need to pass a background check and have your driving record reviewed. This is to ensure the safety of passengers.
Additionally, you’ll need to meet the minimum vehicle age and quality standards, which means you can’t drive just any car–especially one that’s breaking down. Unfortunately, you’ll have to pay all regular expenses of your vehicle, including gas, repairs, maintenance, and insurance. It would be a dream if working for a ridesharing app meant all your car expenses were taken care of.
Of course, the company you sign up with will take a portion of your earnings, but the amount varies between apps. It’s a good idea to check how much commission each ridesharing app takes before committing to any. That way, you’ll know which app to prioritize–the one that takes the lowest commission. The best part of becoming a ridesharing driver is being able to work on your own schedule. You’re able to drive as much as you want on top of your job. If you’re bored during the night and want to make some extra cash, hop on the app and get to driving! Always make sure you take all necessary precautions when dealing with strangers in your car and follow the rules carefully.
Delivery Driver
If you don’t like the idea of having strangers in your car, you can become a delivery driver instead. There are many different delivery drivers, including food and grocery delivery, package delivery, and other delivery services. Check what type of delivery services are available in your area and see if it’s something you’re interested in.
For food delivery, you can sign up on popular apps such as Uber Eats, DoorDash, and Grubhub. These apps follow many of the same protocols as ridesharing apps, but they can vary. For example, DoorDash requires you to be at least 18 years of age with a valid driver’s license to sign up. However, there aren’t any minimum vehicle requirements, so you can deliver food on a scooter or bike if you’d like. You also need to pass a background check and have a clean driving record.
UberEats, on the other hand, may require you to be 18-21+ years old, depending on where you live. You must also have a valid driver’s license, but you need to meet their minimum vehicle requirements this time. This includes having at least one year of driving experience and a well-functioning car that isn’t too old.
Other delivery services such as Instacart, Shipt, and Amazon Flex can be a little different. Instacart, for example, requires you to be able to lift up to 40 pounds. This is to ensure you can reliably pick up groceries for your customers and deliver them to their doorsteps. Shipt is similar to Instacart, but instead of only working with groceries, you’ll be picking up and delivering household goods, pet supplies, and other retail items.
As you can see, delivery services can vary, so you’ll want to look deeper into each one to see which ones suit you best. Go through all the terms and conditions to know what to expect, including pay, hours, rules, and other policies.
Renting
If you didn’t know, renting your car can be highly profitable! This can be the ideal choice for those who don’t use their vehicles often. Of course, renting out your vehicle means you won’t be able to drive it. If you don’t have other means of transportation to get to places you need to be at, renting may not be for you.
Travelers and those who don’t own cars head to car-rental apps because they’re usually cheaper than dealerships, so there’s a lot of business to go around. Apps such as Turo and Getaround are excellent options to consider, and the process is exactly what you’d expect.
For Turo, simply sign up with your registered and insured vehicle that’s newer than 12 years old. The app will then help you determine the price customers should rent your car, but you can manually set it yourself. There’s a calculator you can use to get a good idea of how much you’ll earn, and it can vary depending on where your car is located. There are other options, such as waiving your vehicle protection and carrying your own rental insurance policies to earn more money, but that’s entirely up to you.
Getaround is similar to Turo, except they focus on connecting new vehicles with drivers who only need to rent cars for a short period, such as a few hours or days. As always, read through the terms and conditions and compare various options between apps to see which ones are best for you.
Advertising
We wanted to include advertising as another option, but it’s not commonly sought after. By wrapping your car in advertisements, you can earn extra money driving around, but there are some requirements. For example, Carvertise requires your car to be no older than 10 years, and you must have a clean driving record. Your car’s paint needs to be factory-new, and you must drive at least 30 miles every day, which can be a lot. There are many concerns around car advertisement companies, some of which can be shady (Carvertise is a reputable company). It’s up to you to decide whether this is something you want to do.