Did you know you can get paid for advertising on your car while also using it as your primary source of income? You don’t have to sell or rent your car to turn one of your biggest financial liabilities into an asset. Your vehicle can help you earn active or passive income doing what you usually do or changing your career path.
The gig economy changed the types of jobs available. You can pick up extra cash to supplement your paycheck or transform freelance projects into a full-time job. Check out 6 ways your vehicle can make you money and reduce your driving costs.
The most popular way to make money with your car is to be a rideshare driver on applications like Lyft and Uber. The companies take a percentage of drivers’ earnings as the facilitators between them and paying passengers. This amount is usually about 20 percent.
As a rideshare driver, you determine when you want to work (although during busy times is more profitable). You can work part- or full-time, on the weekdays or weekends, and 24 hours a day.
To drive for these companies, you will need to pass background checks. Your vehicle must also meet certain standards. You may be able to drive at a higher rate if your vehicle is new and nice enough.
Not a fan of having strangers in your car? Try delivering goods instead of people! Check out what to expect being a delivery driver next.
What is it like to deliver for DoorDash and other food-delivery services? It is just like picking up delivery for your friends!
Customers order their food and goods from their favorite local restaurants, grocery stores, and other retailers. Then drivers pick up the orders to deliver to the customer. The application pays the driver an amount, and customers can add tips.
Delivery apps and order types:
- Postmates – food, groceries, and alcohol in select states
- DoorDash – fast food, restaurant meals, and alcohol in select regions
- GrubHub – fast food, restaurant meals, and alcohol in select regions
- Uber Eats – fast food, restaurant meals, and alcohol in Florida and other smaller regions
- InstaCart – groceries, retail products, and alcohol in select regions
- Shipt – groceries, retail products, and alcohol in select regions
Whether you deliver for GrubHub or another app, your vehicle will need to meet certain standards, such as up-to-date insurance and registration. When you sign up for Uber Eats and other app-based delivery jobs, you will need to submit information showing you and your vehicle meet regulations.
Your mileage increases once you are a rideshare driver. You can take advantage of driving throughout your city and make even more money. Find out what you can put on your car to earn passive income while being a rideshare driver or just making your daily commute to work or school.
You can get paid to wrap your car in advertising stickers from local and nationwide businesses. You can get paid for car advertising stickers through the companies Carvertise, Wrapify, and StickerRide. These businesses pay drivers to drive advertised-wrapped vehicles around their local communities.
- Carvertise mostly works with rideshare drivers but hires drivers who commute daily. A driver application will ask questions about where and how often you usually drive. The company matches your driving habits with one of its brands.
- Wrapify also pays drivers for mobile advertising. Drivers sign into the app on their regular commutes, and they will receive offers for qualifying campaigns. Most drivers must spend at least 25 percent of their commute time in the company’s promotional target area.
- StickerRide is another transportation marketing company that connects drivers and brands. Drivers apply to campaigns to determine if their vehicle and driving habits match.
Your location, type of car, time zone, sticker space, and other factors influence payment. Promotions that involve a full-vehicle sticker would pay more than a partial, for instance.
You can maximize your earning potential when you combine advertising with rideshare driving. But your car can also make money without you leaving the house. Find out how your car puts cash in your account without you having to leave home next.
You can make money with your car without driving anywhere, thanks to carsharing. A carshare app connects vehicle owners to licensed drivers who need to rent cars, trucks, and more at hourly or daily rates. Imagine making money during the time your vehicle normally sits in a parking spot.
“How do I rent out my car and get paid?” The three most-popular carsharing apps include the following:
- Turo operates like a traditional rental company. Renters pay daily rates, usually for weekend getaways. Owners do not need to use the suggested rate and can select their own. However, Turo does not allow owners to sign up for other carsharing apps.
- Getaround has hourly and daily rentals for drivers in select areas, as it is only available in select major cities like Boston, Los Angeles, and Miami. Renters provide a $150 deposit and are financially responsible for tolls, tickets, fuel, and other costs.
- HyreCar renters are usually delivery drivers for other apps, such as Grubhub, Postmates, and Uber. Each renter provides a $200 deposit, and the app builds wear-and-tear costs into the rental price.
If you don’t want to rent out your car to local strangers, you can still make passive income by renting it out to entertainment companies. Find out how to cash in on your car and see it on television.
You rent your car to television and movie companies if you have a vehicle production companies want. Studios go through car brokers, manufacturers, and other companies to get the vehicles they need to shoot. In special cases, production representatives will reach out to car owners directly.
Daily car rental rates for television and movies can range from $75 to $100, but classics and rare vehicles will go for more. If you have a highly-desired vintage vehicle, you may be able to set the rental rate. Likewise, your vehicle’s worth may increase from being in a film.
Three of the most expensive cars used in movies include a:
- 1956 Ferrari 250 GT LWB Berlinetta sold for $6.7 million after being in “The Love Bug”.
- 1965 Shelby Cobra Daytona Coupe for $7.69 million after being in “Redline 7000”.
- 1968 Ford Gulf GT40 for $11 million after being in “24 Hours of Le Mans”.
Keep in mind the above examples are rare cars. It is also difficult to find consistent contracts to make a livable income. You can find car-related work more frequently if you have a truck, van, or another hauling vehicle. Learn about how you can make a few bucks into a business.
If you want to consistently make money with your car, you could help others move belongings. You can rent out your truck, drive between locations, offer moving services, and more. Whatever level of services you want to provide is up to you. People are always in need of someone with a truck or van to help them:
- Move apartments.
- Transfer things to storage.
- Pick up a big purchase.
Fetch connects truck owners with renters, and the company claims owners can generate up to $1,800 monthly. Owners receive 65 to 80 percent of the rental costs. You can also put your truck or van on carshare apps, like Turo, Getaround, and HyreCar.