5 Ways to Earn Money with Your Car
Cars are a liability. From the monthly car loan repayments, insurance costs and weekly petrol, cars can be draining to our wallets. But there are also ways that you can earn money using your car. Here are some ways:
1. Rent off your car
If you are one of those people who drive your car around on the weekends but not on the weekdays as you tend to take public transport to work instead, try renting out your car during the times you don’t use your vehicle. Car renting services facilitates car owners to rent out their cars to vetted borrowers and covers a comprehensive car insurance cost in case of an accident. Some of these car renters can earn over $10,000 annually depending on how much you rent your car for and for how long. Some cars renting services rent out cars for long-term use with a minimum rental period of seven days while others charge by the hour or day. Vehicle owners can set their own rate ranging from $5-$10 per hour to $25-$40 per day depending on the type of car being rented as well as the availability of the car. Car owners also get 25c/km to cover petrol and servicing costs.
However, in order for the car to be suitable for rent, it must be manufactures in the last 10 years and in a good running condition of less than 200,000km on the clock. In some car rental services, you can earn a rate that is based on the market value of the car (e.g. if a car is valued at $25,000 then the car owner can earn up to $800 per month). However, these rental services will require the car to be of less than $75,000 in market value. Moreover, it is good to check with your own car insurance beforehand if renting out your car will invalidate your insurance.
2. Turn your car into a ride-sharing vehicle
More and more people now prefer ridesharing than the traditional taxis because of its convenience and lower costs. If you’re looking into making profit, ride-hailing services such as Uber, DiDi and Olacabs are a great way to earn extra cash. However, insurers can void your insurance if you’re making profit with your car so it would be best to check beforehand. Moreover, this kind of ride-sharing will only get you more money if you drive more hours during the week or on the weekends.
Carpooling is one of the new ways of earning money nowadays. Car owners who drive their cars to work can share their car with colleagues or people who live nearby or on the way to their respective workplaces. It is not only economic but also better for the environment as it lessens carbon footprint and lessens traffic congestion if more people consider carpooling instead of driving by themselves to work everyday. It is a sustainable way of covering the car’s maintenance costs.
In Australia, there are a few websites where car owners can register to carpool such as CarpoolWorld, Share Your Ride and CoSeats. It also gives passengers a more convenient alternative to crowded public transport and maybe even save a bit of money. It is also a great way to meet new people!
3. Become a casual courier
The expanding market of internet trade demands an increase for delivery drivers. If your weekends are most usually free and would like to earn some extra cash, driving around as a casual courier can be a good source of side income. Becoming a casual courier will require your own vehicle, a valid drivers license, a background check and an Australian Business Number.
4. Deliver food
Food delivery services has seen a rise in demand nowadays and regular drivers can register to deliver food to houses by picking up the ordered food from the restaurant and delivering it to the customer’s door. This gig lets you earn money using your car in your own time. Some requirements include having your own car, an unrestricted driver’s license and sometimes even a background check.
5. Wrap your car in advertising
Businesses have seen the importance and the effectiveness of outdoor advertising. Despite the rising trend in online media marketing, outdoor advertising (or out-of-home advertising) is still proven to be a cost-effective way of advertising. At Marketing On Wheels, drivers can register to get their car wrapped in advertisements to represent a business or brand of their choice. Cars will be wrapped in high-quality vinyl graphics depending on the amount of space the car owner is willing to use which will also affect the rate per hour and distance driven. There are many benefits to car wrap advertising to drivers such as it can protect the car from minor scratches and drivers do not have to do anything more than their regular driving which means they can earn money even without having to do much! Tracking the hours and amount of distance driven is made easy by the Marketing On Wheels app where drivers can register and create their profile and also choose which brands they are willing to advertise.
If you want to earn extra cash on the side by simply doing your regular driving, contact us today and get started on being a Marketing On Wheels driver!