Owning a car does not necessarily have to be an expensive proposition. While you cannot avoid paying the auto loan installments or the car insurance and maintenance costs, you can put your vehicle to productive use and earn cash with it.
Here are four solid ways to do it.
A number of mobile apps will pay you for delivering groceries and various other products to people. Check out the Instacart on-demand service for grocery delivery.
Here you can operate as an independent contractor and use your own car to deliver the groceries. The company says that its drivers usually earn up to $25 per hour.
Postmates is another popular on-demand delivery service for groceries and food where you could earn a similar amount as Instacart as a delivery driver. You can get started quickly by downloading the Postmates app to create a verified account.
You can choose your time to work and cash out whenever you want without any obligations.
Another option is to work as an independent contractor with Amazon Flex. Your job will be to deliver packages for local Amazon Prime customers.
The company’s website says that you can make anywhere from $18 to $25 an hour as an Amazon Flex driver. If you looking for food delivery options, consider Uber Eats, which involves delivering food to from a restaurant to a customer’s location.
Drive people around
If driving all by yourself to deliver goods is not your cup of tea, you could consider driving others around. You could become a driver-partner with popular rideshare companies, such as Uber or Lyft.
The advantage here is that you decide your own work schedules and activate your rideshare app when you are ready to drive people around.
When you don’t want to work you can simply switch off the app. You will have to meet the eligibility conditions of the rideshare company to join them as a driver-partner.
Let others use your car
Are you ready to rent your car to others? That’s a good way to generate money from your car.
You can explore this opportunity with a car sharing marketplace such as Turo, which will connect customers who are looking to rent a car. How much you earn from renting out of your car will vary according to the type of car you have and the duration for which a customer wants to rent it out.
As the car owner, you can expect to receive up to 85% of the actual trip cost that a customer pays.
Place sds on your car
A number of brands are looking to advertise on your automobile. The ad could simply be a magnetic placard or a complete vehicle wrap.
Carvertise is one of the top names in this field, who will pay to advertise a brand on your vehicle. It specializes in rear window wraps and side wraps. You could earn $100 or more a month for one ad.
Another company with a similar service is Wrapify, which offers a variable pay according to your driving record, location and other factors.