How to make money with your car
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Your car makes it easy to get around without having to rely on public transportation. But it also offers another significant benefit — the ability to make some extra cash. Even better, there’s a variety of ways to use your car as an income source — with or without you behind the wheel.
So, consider leveraging these opportunities to boost your income. The funds you earn can be used to meet financial goals, whether it’s paying off debt, saving for a rainy debt or taking that dream vacation.
7 ways to make money with your car
Here are seven ways to make money with your car with relatively little risk.
1. Use a rideshare app
If you have a good driving record, are at least 21 years old and have some extra time on your hands, working for a rideshare app is a great way to make money. There are a few options for becoming a local taxi driver. Uber and Lyft are the most popular and offer a great way to make money just by driving. If this fits into your schedule, consider weekend driving when “surge pricing” is present and you can make a few more bucks later at night.
2. Work with a food delivery service
If you aren’t interested in driving with strangers, becoming a food delivery service driver might be a better opportunity for you. Like ridesharing apps, you sign up and get notifications to pick up and then drop off food for hungry customers. There are a few options here with varying benefits, including DoorDash, Uber Eats, and Grubhub.
3. Shop for groceries
Along the same line as working with a food delivery service is to shop and deliver groceries. Instacart and Shipt are two well-respected options. You will receive a shopping list through the app, shop accordingly and then deliver the food to the home of the person who ordered. Delivery drivers can make $10 to $25 an hour depending on the busyness.
4. Wrap your car with advertising
If you don’t mind your car being a moving billboard, sign up with a car advertising company to “wrap” your car with advertising. You’ll get paid while you’re doing your regular driving. The amount you earn depends on your daily commute and the size of your car — which directly translates to the amount of advertising space. Some options for this include: Carvertise, Nickelytics and Wrapify.
5. Help move large objects
If you own a pickup truck or SUV, you can put it to work by transporting large items that don’t fit in other people’s cars. You can do this if you’re registered with a service like Uber, but a better option is a company like TaskRabbit, which allows people to hire you for specific tasks. You’ll get paid for your physical labor as well as the actual transportation.
6. Rent your vehicle out
If your car is collecting dust in the garage, renting it out can be a great way to make money back on an asset that isn’t being used. There are a few services available, but you would simply rent your vehicle out just as you might rent out a spare bedroom for a service like Airbnb. Turo and Getaround are options for this.
7. Deliver for Amazon
Amazon Flex is an option for drivers to deliver directly for Amazon. There are a few shift options that are available, including local delivery for groceries and picking up for a warehouse. You can arrange your delivery windows around your availability, so it can be a great option if you’re busy with another job.
8. Operate as a shuttle service for children
HopSkipDrive is a transportation service for children. You can earn up to $40 per hour plus bonuses as a Care Driver and set your own work schedule. Even better, the mobile app gives you the ability to schedule rides up to seven days in advance. To qualify for the role as a Care Driver, you must be at least 23 years old with five years of caregiving experience, a good driving record and a four-door vehicle that’s no more than 10 years old.
The bottom line
There are a wide range of options available for car owners looking to help cover their car payment and spend less out of pocket at the pump. Take advantage of the world of gig economy and make some cash behind the wheel of your own car.
Consider trying out multiple options until you find those that are most worthwhile. But before you do, make sure your auto insurance is up to date.