Do you have a car that’s costing you too much? How about putting it to work and make money with your car? With the rise of the sharing economy, there are amazing new opportunities for making money with your car. Watch out for scams though. Keep in mind that you should never have to pay upfront in order to work for these companies. Read on to find out the different ways you can make money with your car.
With the popularity of Lyft and Uber, ridesharing has become a great way to make extra money. The beauty of it is that you can set your own schedule. You can work the traditional 9 to 5 hours or work a couple of hours a day or even a week. One of the biggest appeals to being a driver for a ridesharing company is that you have great flexibility in the scheduling. Your car will need to pass safety inspections, and background checks will be performed on you, the driver.
If you have a full-time job or are attending and want to pick up some extra spending money, ridesharing is a good option. You can likely make a killing in fares on nights and weekends and holidays. You know, when other people are out having fun. 😉
If you’d rather not deal with transporting passengers in your car, try delivering food. There are many companies independent of restaurants that hire drivers to deliver food. For example, the ride-sharing company Uber has its own delivery service called Uber Eats. You may be asked to deliver food from all sorts of restaurants but you’re an independent contractor for Uber. Unlike traditional food delivery services, you’re not an employee of the restaurants you deliver food for.
As with ride-sharing, there are plenty of companies that are getting in the food delivery business. That means you have options when trying to decide who to work for. When errors with food orders occur, it is up to the restaurant to resolve the problem, not the problem.
Here are some of the nationally known companies, and your local market may have its own delivery companies as well.
- Grubhub is in more than 50 markets across the U.S., and more than 5,000 restaurants use Grubhub to deliver its food.
- Postmates has a huge presence in California and is a competitor to Grubhub.
- DoorDash is another company that connects drivers, restaurants, and hungry people. DoorDash offers its services in a sprinkling of cities across the U.S. and has a huge presence in California and Seattle.
- Amazon Restaurants is one of the newest entries in the food delivery market. Typical routes are an hour or less and you get to keep 100% of the tips from customers.
Car Wrap Advertising
If you do a lot of driving, consider turning your car into an advertising machines. Many companies will pay you to put wraps onIf your car advertising their products or services. You’re more likely to qualify if you have a newer car and drive at least 800-1,000 miles a month. That averages out to somewhere between 25-35 miles a day. If you live in a big city, that’s another point in your favor because companies want lots of eyeballs on their ads (your car).
The company takes care of putting the ads on your car and all you have to do is go about your usual driving routine. If you’re already using your car for ridesharing or delivering food, this can be a good way to add further income. Here are some companies to look into if the idea appeals to you.
- Carvertise is a well-established advertising company. They pay up to $100 a month or up to $200 a month for more specialized campaigns. You need to drive at least 30 miles a day and own a 2008 model car or newer.
- Car-Bucks offers 3, 6, and 12-month advertising campaigns. The ads are 6″ x 30″. You have the option to accept or decline the placement of an ad, but Car-Bucks currently does not let drivers choose the ads.
- Wrapify lets you download an app to match you with potential advertisers. For a full car wrap, you can earn up to $400 a month.
Rent Out Your Car
If you have a newer car that you don’t drive much, renting it out is a great way make extra money. To participate, you must make sure that your car is meticulous and in absolute tip top shape. If maintenance of any kind is needed, you better take care of it before renting out your car. Company policies can vary but generally, renters are responsible for their own gas, tolls, and parking/traffic tickets.
Here are some companies that can help connect you to people who need a car.
- Turo prices your car based on its market value, location, time of year, and other factors. The pricing is based on an algorithm to increase your earning potential. You also have the option to set your own price if you prefer.
- HyreCar operates within an even more specialized niche then just renting out your car to tourists or people who only a need a car for a few days. You’re renting your car out to people who want to drive for Uber and Lyft but don’t own a car. Whoever thought of this is kind of genius.
- Getaround connects people who need to rent a car with private car owners. It is currently available in San Francisco, Berkley, Oakland, Portland, Chicago, Washington D.C., New Jersey, and Boston.
Amazon is slowly taking over the world, and one of the ways they’re doing it is through Amazon Flex. Amazon Flex is Amazon’s version of FedEx or UPS. The driver goes to a warehouse, picks up the goods that an Amazon customer ordered and deliver them to the customer. As the driver, you’ll need to pass background checks and your car needs to be a mid-sized 4-door sedan or larger.
If you’re looking for ways to make extra money, your car might be the answer. Would you try any of these options?