How to Make Money With Your Car
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Oftentimes in our lives, there is a need to make extra cash. You might be saving for a house, college tuition or even a new car. Perhaps you want to go on a Caribbean cruise for a special occasion. Whatever the reason, you have more income opportunities than you think. For instance, you can make money with your car. Here are just a few techniques that help you take advantage of this untapped resource: rideshare services, run errands, advertise, deliveries, teach others how to drive, and lease your car.
Transportation and ridesharing services
Nowadays there are several companies that will allow you to drive your own car to transport passengers to and from desired destinations, just like a traditional taxi service. Uber and Lyft are only two examples of such services. In the most basic terms, passenger’s search for a driver nearby, pay a fare and it is split between you and the company. There are different terms and conditions, so it is best to visit each company’s websites to learn more.
“Honey Do” services
Ever heard of a “Honey Do” list? It is a good humor reference to the list wives put together for their husbands of errands that need to be done. You can use your car to start a business in which you charge a fee to run around town to drop off the dog at the groomer, go grocery shopping, pick up dry cleaning and perform many other types of errands. Often these companies charge by the type of errand or by the hour, depending on the task.
Many companies are realizing that mobile advertising can allow them to get their message out and gain brand recognition to a broader audience than a standard billboard sign. Your earnings depend on the amount of space used on your car, where you live and how much you drive, but individuals have been known to make $500 or more per month. Wrapify is one of the fastest growing businesses in this market and pays drivers by the mile.
Courier and deliveries
It is common businesses like law firms, real estate companies and other organizations that require several exchanges of paperwork to utilize the services of a courier company. It is more cost effective for them to hire someone to deliver and pick up packages than use a member of their paid staff. You can use your car to make money by registering to work for a company that provides the service. Or if you are in an entrepreneurial mood, you can start your own courier business.
Teach people to drive
Many states will allow you to use your own car, if it meets their safety and equipment requirements, to teach people how to drive. Most often, it is to teenagers studying for their driver’s license. If a school does not offer the class or does not have enough slots, a student may have to utilize a private company for lessons. Driving schools can get expensive or the demand may be high, so there are opportunities to make money with your car if you want to teach others.
Lease your car
Perhaps you only use your car on the weekends, because you use public transportation during the week to get back and forth to work. Maybe you have an extra car that is rarely used. No matter the case, you can lease your car on the days you don’t need it.
This is a popular service in big cities where people often don’t own their own cars. They are often looking for a car to run errands that can’t easily be done using the subway or bus system. Sometimes there are just looking for a means to get out of town for the weekend. There a several companies, such as Turo, with which you can register your car for bookings.
These are only some of the ways you can make money with your car. It can be as easy as running errands, advertising, making deliveries or giving lessons. When considering these options, remember you may be required to carry special car insurance to cover your vehicle when using it for business purposes and for transporting passengers. However, sometimes the contracting companies may offer insurance coverage for you and your car while you are working.