- Personal Finance
Wow! 22 Amazing Ways to Make Money with Your Car
Making money with your car is simple. Just think of everyone who needs to get around with a car, but do not or cannot drive. That’s probably most non-drivers. Some individuals are too young, much older, disabled, too busy, don’t have the correct type of vehicle, suspended from driving, or simply haven’t learned how to drive yet, among others.
Here are 22 great ways you can use your car to make money for yourself and your family. At the same time, you will help the environment, care for others in your vicinity and make new acquaintances. Before you consider any of these options, be certain to fully understand the driving laws of your country or municipality, since these regulations may differ from one location to another. Your car is a very important asset for generating additional income.
1. Carpooling. As a great way to save gas and benefit the environment, individuals can drive to the same destinations in groups, as opposed to separately – thankfully reducing toxins into the air. Passengers can pay the driver monthly for their rides (a fee or tip), while perhaps even taking turns driving the carpool each month. Employees tend to carpool to work together frequently – saving and earning money at the same time. You can establish a carpooling group where individuals will be responsible and committed to the endeavor. Carpooling also provides a great way to strengthen relationships over time. ***Recommended Vehicle: sedan; minivan; SUV.
2. Delivery and Courier Services. Recall all those individuals who need to get around with a car, but are unable. Now consider how many of those individuals need to regularly deliver or transport various items (i.e. children, furniture, groceries, etc.). Using your car to assist these individuals is an excellent form of social support and regular income. Many individuals and businesses also require delivery or courier services (i.e. pizza, newspapers, dry cleaning, mail, etc.). Similar to Fed-Ex or UPS services, delivery and courier services are billed to clients per trip. Research if there are any regulations for providing delivery or courier services in your area, as certain municipalities require you to be legally registered to provide these services. Your car also allows you to make several trips at once, carrying a large quantity of items for delivery to different places at the same time. ***Recommended Vehicle: minivan; SUV; cargo van; box truck.
3. Rent Out your Vehicle. Have any of your friends or acquaintances ever needed to rent or borrow a car from Enterprise, Hertz or Avis? When your car is not in use, you can rent out your vehicle by the day or even by the hour. Consider using below market rates in order to maximize demand for your vehicle. If, for example, you are traveling by plane for business or personal reasons, your car will more likely not be in use. Feel free to rent out your vehicle as you travel, also when ill or even when you are at work. At least you will not have to pay to park your vehicle when you travel. Boats, planes and motorbikes can be rented out as well. Always be certain that the driver renting your vehicle is fully insured. Consider contracting your rental to minimize any possible liabilities. You can also employ others to use your vehicle for projects and additional work opportunities when you are occupied at home or in the office. ***Recommended Vehicle: compact car; sedan; sports car; SUV (sports utility vehicle); pickup truck; RV.
4. Moving Services. Everyone will more likely move items to a new location at least once in their life. Whether someone is relocating for work, changing home residences, transporting a boat from a garage to the sea or heading off to college, moving is a business that will probably never become outdated. Your vehicle can be used to help move individuals and their families to their new locations. Movers usually charge a rate per hour along with a flat rate. The longer it takes to move someone, the more you can earn. Research if there are any regulations for providing moving services in your area, as certain municipalities require licensing for commercial moving. Some vehicles attach trailers, cargo hitches and other accessories to maximize the quantity of items in tow. ***Recommended Vehicle: SUV; pickup truck; utility van; box van; box truck.
A Map - The Driver's Best Friend
5. Taxicab Services. Most taxicab services do require a license for practice. While some taxicabs charge a flat fee per trip, others charge based on electronic meter readings for the duration of the ride. Since taxicabs set their own times and places for work, they can inevitably accumulate substantial earnings over time for their services. Keep in mind that there may be safety risks when providing taxicab services late in the night or during the early morning hours. Keep in mind that space in your vehicle for luggage is also necessary. ***Recommended Vehicle: sedan; minivan; SUV.
6. Designated Driver Services. Designated drivers usually partner with a local bar, lounge or club where alcohol is served to patrons in order to safely drive individuals to their destinations afterwards. Designated driver services do help save lives by encouraging drinkers to leave their cars at home, as some services will go as far as picking up patrons from their homes or hotels. Drivers can service multiple passengers in one trip. It is important to be knowledgeable of the vicinity, since you may not be able to get help from the passenger. systems and maps can be of aid. Unlike taxicab services, designated drivers will charge the venue they are partnered with for the services rendered. Research if there are any regulations for providing designated driving services in your area before providing these services. To begin using your car as a designate driver, simply contact a local venue to offer your services. The service usually tends to be in high demand. ***Recommended Vehicle: sedan; minivan. GPS
7. Private Chauffeuring. Elderly, disabled or wealthier individuals tend to require chauffeurs. Chauffeurs are usually hired to drive their passengers to various destinations as needed. They tend to work 24 hours each day and seven days a week throughout the year as they are on call regularly. Some chauffeurs are required to drive the guests of their employer as well. Since chauffeurs sometimes spend long hours in their cars waiting on their passengers, it is important to assess if this option is really for you. Chauffeurs, however, are usually treated well by their employers and compensated highly by salary or monthly fee. ***Recommended Vehicle: sedan; limousine; SUV.
8. Run Errands for Others. Similar to private chauffeurs, you can choose to run errands in your vehicle for other individuals as well. Elderly or disabled people are usually unable to run many errands for themselves, so it tends to be necessary to contact someone to run errands for them. Errands are usually not cumbersome or exhausting. Some private chauffeurs may run errands for their passengers as well. You will more likely be paid per errand or trip. However, some individuals may pay per day or month. ***Recommended Vehicle: compact car; sedan; pickup truck.
9. Disability & Senior Transportation Services. If your passenger requires the use of a wheelchair, medical equipment or walker, then you may be required to obtain certain training and licensing to transport these individuals. Companies such as www.agingcare.com provide these services. Disabled and senior (elderly) transportation services may be funded privately (i.e. a hospital or senior centers) or publicly by the government. Consider partnering with a private facility to provide these services. Governments may heavily regulate transportation of the disabled and seniors, so research the regulations for providing these services in your area. It will be important to have the required type of the vehicle for these transportation services as well. Be certain that your vehicle is fully-equipped for emergencies (i.e. cellphone, first aid kit, GPS, etc.). ***Recommended Vehicle: wheelchair accessible van; passenger van.
Turn Your Cell Phone into a Hotspot
10. A Mobile Shop. More and more retailers are using their vehicles to reach and access a larger target market. Instead of waiting for customers to stop into a traditional brick and mortar store, retailers are now taking their stores to their customers in multiple locations around the country. Pet groomers, cafes, wineries, etc. are now driving to their customers. What a great strategy to expand your customer base! Use your vehicle to setup shop in various locations or temporarily rent a workspace in a new destination to welcome guests. Although selling from a vehicle is a very common practice, be certain not to violate any local regulations when setting up a workstation in public places close to your vehicle. Customers can stop by your vehicle to purchase and pay for your products or services. ***Recommended Vehicle: minivan; hatchback; SUV; utility van; box van.
11. Emergency Roadside Assistance. Why not use your car to assist other drivers? Members of your service will pay an annual fee for emergency roadside services throughout the year. Similar to the services rendered by such companies as AAA or GEICO, you too can receive distress calls from drivers seeking emergency roadside assistance. Consider providing these services to individuals in your immediate vicinity, since a larger area of coverage will require a larger fleet of vehicles to service customers. Be certain to maintain all the equipment and tools you may need to provide an efficient service when called (i.e. hitches, booster cables, batteries, etc.). ***Recommended Vehicle: pickup truck; tow truck.
12. A Mobile Hotspot. Rural areas tend to need mobile hotspots more than urban and suburban areas. Your ability to drive to these rural areas to setup a hotspot in your vehicle grants you an advantage. Feel free to change vicinities over time accordingly – wherever the need is for hotspot services. Hotspots next to campsites and parks are also in demand. Be certain to have the necessary equipment to establish an effective hotspot in those areas (i.e. antenna, laptop, connection cables, router, etc.). Local individuals can pay to access your hotspot. Simply indicate your contact information as the name of the connection so that individuals will know exactly where to go online to setup an account and pay to access your hotspot. ***Recommended Vehicle: compact car; sedan; minivan; SUV; pickup truck; RV.
13. Become a Private Investigator. Women, more than men, tend to hire private investigators to ensure the integrity of marriages or relationships. Private investigators spend a lot of time in their cars following and monitoring suspects or people of interest. Although many private investigators have a background in law enforcement or military espionage, research if there are any regulations for becoming a private investigator in your specific area. You may be required to take courses, register your services or obtain a license to practice. Clients usually pay a portion of the total due for services at the beginning of an investigation and the rest of the bill upon completion of your investigation. ***Recommended Vehicle: sedan; minivan; SUV.
If you currently have a business, will you consider a mobile shop or shop-on-wheels as those described above?
14. Display Your Vehicle in a Car Show. Local car shows will pay participants a fee to showcase their extraordinary vehicles. Car shows tend to focus on highly-attractive, impressive vehicles with features such as antique, muscle, accessorized or large in size. These vehicles are usually cleaned and creatively decorated for the event. The more spectacular display of your car, the more car shows will be willing to pay you to showcase your vehicle. ***Recommended Vehicle: sedan; muscle car; sports car; monster pickup truck.
15. Use Your Vehicle as Collateral for a Loan. Various small financial institutions, including pawn shops and online lenders, will lend money to individuals using the borrower’s vehicle as the underlying asset (collateral) for the loan. Sites such as www.LendingTree.com, for example, provides such collateral-based auto loans. The vehicle must be fully inspected and appraised in order to assess the cash value of the loan. Once the vehicle is appraised, the lender will permit the borrower to formally apply for the loan. The borrower must still be approved for the loan by an underwriter. While cars, vans and trucks are commonly used for collateral, some institutions will accept boats, motorbikes and small private planes as well. Vehicles should be recently inspected and cleaned before submitting as collateral, as this will impact decisions to loan cash. ***Recommended Vehicle: all.
16. Car Racing (Legal). Most car racing events are not legal. However, few events are registered with their local municipalities. The owners and drivers of the vehicles are also registered, screened and authorized to participate in car racing events. The more infamous racing events, such as NASCAR and Grand Prix, require skilled and experienced driving participants only. Research the regulations for hosting or participating in legal car racing events in your vicinity. ***Recommended Vehicle: race car; sports car; muscle car; SUV; monster pickup truck.
17. Advertising Services. Placing advertisements on vehicles has been practiced for some time now. Taxicabs are most infamous for advertising on their roofs. More and more individuals are choosing to wrap their cars in advertisements. Participating advertisers, such as Red Bull and MetroPCS, usually pay a monthly fee to drivers who wrap their cars in the advertiser’s logo or brand name. Be certain that the service is fully contracted and signed before advertising, so that you will be paid accordingly for your services. ***Recommended Vehicle: utility van; passenger van; box van; box truck; bus.
18. Driving Instruction or Education Services. A number of individuals currently use their cars to teach others how to drive. If you have a clean driver’s license, you can teach others how to drive as well. Simply sign up with your local DMV (Department of Motor Vehicles) or local driver registration government agency to provide this service. While many individuals naturally accept the responsibility of teaching their family members and friends to drive, some individuals do not have immediate access to family members or friends that do drive. Providing these services to your local community or a selected community will allow you to earn money for the services you provide. Since learning to drive can take a lengthy period of time, individuals who use their vehicles to provide driver’s education can receive a steady form of income over time. Student drivers can pay per lesson received or you may offer a full course that provides multiple lessons. Defensive and commercial driving courses can also be provided. ***Recommended Vehicle: compact car; sedan; limousine; box truck; bus; tractor trailer.
19. Customize Your Car for Resale. Purchasing a used vehicle for cheap allows newer drivers to repair, enhance and customize their vehicle to resell for a higher price than purchased. You can also customize a new car for resale. Consider selecting a market for reselling your customized vehicles. For example, purchasing small used cars to customize (or wrap) with a cartoon character may be appealing for high school students. Similarly, customizing cars for a market of individuals who love dogs will be effective. Various markets for selling customized cars to young men are in abundance. Be certain that the costs to repair, enhance and customize your vehicle do not surpass the purchase price or resale value of the car. ***Recommended Vehicle: compact car; sedan; antique car; sports car; SUV; pickup truck.
20. Sell Your Car Parts. If your car is not working properly (or at all), feel free to sell your car parts. Sometimes selling the parts of the vehicle to various buyers is more effective than selling an impaired car as a whole. You can find buyers for your car parts on websites such as www.justparts.com or www.craigslist.org. Be prepared to negotiate your pricing for each part since many buyers do not prefer to pay substantially for used car parts. Parts should be cleaned at minimum before selling. Nuts and bolts associated with car parts should be sold along with the car part. ***Recommended Vehicle: all.
21. Submit Your Car as a Movie Prop. Acting is for everyone, even cars! Production companies, photo studios and theatres sometimes use real cars as props in their productions. Since purchasing cars can be costly for the production company, producers will hire cars for the duration of the production as props on the set. Be certain that the car is cleaned to attract greater interest. Feel free to contact local production companies to generate interest in using your car within their productions. Other forms of transportation (i.e. boats, motorcycles and small private planes) can also be used as props. ***Recommended Vehicle: all.
How to Sell Your Car
22. Sell Your Car. If your vehicle is no longer being used or is impaired, then consider selling the entire vehicle. There are markets for every possible type of vehicle out there. The cash proceeds from the sale can be minimal or substantial. If buyers do not foresee repairing the vehicle, they will purchase the machine for its parts. New drivers usually purchase quality, used vehicles for their first car purchase. Consider selling your vehicle, if in good condition, via lively online exchanges. Be certain to have access to the title of the vehicle for a simple sale. Buyers will usually bring their mechanics with them to check out the car on site before purchasing. Providing buyers with a test drive of the vehicle may be necessary. Your driver’s license will also be used to verify the name on the title certificate. ***Recommended Vehicle: all.
Keep in mind that it is important to have fulfilled the necessary credentials, registrations or licensing to perform any of these money-making endeavors with your vehicle. You will then be certain to have no run-ins with the law. More importantly if you decide to implement any of these options with your vehicle, then please be safe. PLEASE DO NOT TALK ON A PHONE, TEXT, DRINK ALCOHOL OR USE DRUGS BEFORE OR WHILE DRIVING. This is the law! Distracted driving can be fatal. It is always better to be safe when driving, than to not be able to drive at all. After all, you need to be alive and well in order to enjoy all the extra cash you will make.
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