6 WAYS TO MAKE EXTRA MONEY WITH YOUR CAR

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You don’t have to lớn look too far for opportunities lớn earn extra cash. Market retìm kiếm companies offer good money for consumers’ honest opinions và reactions in focus groups and hàng hóa testing studies.

Cash-baông chồng apps like Ibotta or Rakuten pay shoppers lớn make everyday purchases through affiliate websites. Health care organizations generously compensate fluid và tissue donors willing khổng lồ part with plasma, sperm, và eggs – though the more invasive sầu forms of medical donation come with risks.

Car owners và lessees can add another opportunity to lớn the list: monetizing their personal vehicles.

How to Make Money With Your Car

Vehicular side hustles come in many forms. Although the most lucrative sầu opportunities generally involve significant amounts of driving, monetizing your vehicle doesn’t necessarily require you lớn put extra miles on your car. Wrapping your car in advertising is a classic passive sầu income opportunity, for instance, that typically doesn’t increase your total miles driven.

The following are popular, legitimate ways lớn earn real money with a personal vehicle. Your actual range of options depends on the age and condition of your car, the opportunities available in your geographical area, và your personal preferences.

1. Drive sầu for a Ridesharing App

Becoming a ridesharing driver is a no-nonsense way lớn make money with your oto. You give sầu people rides from point A lớn point B, they pay through the app, & you get most of the proceeds. It’s easy.

That doesn’t mean it’s without its downsides. Ridesharing drivers need lớn pass driving record và criminal background checks, meet minimum vehicle age & quality standards, và cover most vehicle expenses: gas, insurance, maintenance, and repairs. Drivers pay tolls out of pocket, but they’re added khổng lồ rider fares and reimbursed after the fact.

Profitable ridesharing operators typically don’t keep 9-to-5 driving schedules, either. In most ridesharing markets, peak driving periods fall during weekday rush hours và in the hours leading up lớn bar closing time on weekends. If you’re an early-to-bed kind of person, or too exhausted from your day job to drive sầu late inkhổng lồ the evening, you’re unlikely to maximize your ridesharing earning potential.

Ridesharing operators’ hourly earnings vary widely. Optimistic projections that have sầu drivers earning $25 per hour or more during peak periods may not account for all driver expenses, nor for vehicle depreciation.

Moreover, the crush of new ridesharing drivers has apparently depressed earnings. The average driver take-home pay fell by một nửa from 2013 to lớn 2018, to lớn $762 per month, according to a study by JPMorgan Chase.

Still, driving for a ridesharing app in your spare time is a great way to press your car inkhổng lồ money-making service. Depending on where you live sầu, your options include:

Bear in mind that ridesharing apps aren’t exclusive. Drivers approved to drive sầu for both apps typically switch between Uber và Lyft when they’re accepting rides, reducing downtime between rides và thereby boosting hourly earnings.

2. Deliver Food

In college, I worked 15 or đôi mươi hours per week as a delivery driver for a local restaurant chain, padding my budget & staying out of trouble. That was before apps such as DoorDash and Uber Eats were commonplace. Today, I’d be just as likely khổng lồ deliver for multiple restaurants through one of these popular apps:

Being a food delivery app driver is similar to lớn being a ridesharing driver, minus the human passengers. Peak hours are a little different. Most food delivery drivers work at lunchtime & dinnertime, with the latter being better for drivers with 9-to-5 jobs.

And because app-based food delivery drivers are dependent on human food prep workers, the pickup process isn’t always seamless. I’m surprised these days when I walk into a busy takeout restaurant & don’t see a cluster of forlorn drivers waiting for their orders to lớn be filled.

Still, signing up with multiple food delivery apps to lớn capture the highest possible number of orders may be a better bet than throwing all your chips in with a single restaurant, as I did.

3. Deliver Other Goods

If the thought of delivering only prepared food strikes you as monotonous, why not branch out? Consider these non-restaurant (or not-only-restaurant) delivery options:

Again, you’re best off putting your eggs in multiple delivery baskets – say, putting in your Instacart hours during peak weekover shopping hours và driving for Amazon Flex on weekday evenings.

As a practical matter, services that require you to interact with a wider range of retail partners, such as Postmates, may be less predictable – and less efficient – than services that involve sầu a relative handful of partners (such as Instacart) or few stops to lớn piông chồng up new wares (such as Amazon Flex).

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4. Wrap Your Car in Advertising

If you have a newer vehicle and a long commute, your oto may be a good candidate to wrap in removable advertising decals.

The main advantage of wrapping your oto in advertising versus delivering goods all over town is that you may not have sầu khổng lồ drive any more than normal, provided you meet advertisers’ minimum miles-driven requirements. Because per-mile pay is relatively low, it’s probably not worth your time to lớn artificially inflate your mileage by driving aimlessly around town – & unless you have sầu an all-electric vehicle, that’s not an environmentally responsible pursuit, anyway.

The United States’ two best-known car-wrapping companies are:

Carvertise & Wrapify are legitimate enterprises, but not all oto advertising offers are aboveboard. The Federal Trade Commission warns drivers khổng lồ be on the lookout for kiểm tra cashing scams involving too-good-to-be-true oto wrap solicitations. Steer clear of these scams by ignoring car wrap offers on social truyền thông and scam-prone digital classified websites such as Craigsdanh sách. And don’t accept any oto wrap offer that requires you to pay upfront for your wrap.

5. Rent Out Your Car When You’re Not Using It

If you own a car that you don’t need khổng lồ use every day, you can make it available for short-term use to lớn locals who don’t own cars và travelers who don’t want lớn bother with traditional rentals while they’re in town. “Car sharing” is the official term, but feel không lấy phí lớn think of it as “Airbnb for cars.”

As with wrapping your oto in advertising, one advantage of renting out your car when you’re not using it is that there’s no need lớn drive any more than usual. The downside is that, unlượt thích car wraps, short-term oto rentals inevitably put extra miles on your oto, which means extra wear và tear.

And, obviously, you can’t use your vehicle while it’s rented out – no last-minute trips khổng lồ the store to lớn pick up that one missing dinner ingredient.

Nevertheless, making your vehicle available for short-term rentals when you know you won’t need it is a potentially lucrative move. Maybe it’s a second oto that your household doesn’t use all that much, or you live in a city with a great public transit or bike commuting infrastructure. If you have a newer oto you can rent out regularly, you could earn several hundred dollars in side income per month, enough lớn subsidize your insurance premium và loan payments & perhaps still have sầu some cash left over.

Consider these legitimate short-term oto rental options:

6. Help People Move

You don’t need a box truông chồng or full-kích thước van to lớn help others move. All that’s required is a decent-sized trunk & backseat – and maybe a pickup bed if you’re lucky enough lớn have one – & the willingness to lớn put in some physical labor. Consider these options:

Things lớn Consider Before Using Your Car to Earn Extra Income

Using a personal vehicle to lớn earn extra – or full-time – income involves certain risks, trade-offs, and complications. Depending on your choice of vehicular side hustle, you’re like khổng lồ grhãng apple with some or all of the following. Consider each carefully before putting your car into service.

1. Independent Contractor Status

Most of these side hustles classify drivers as independent contractors (ICs), not W-2 employees. Bite Squad restaurant delivery driving is the major exception. If the legal protections & relative sầu predictability of traditional employment are important to you, Bite Squad is your hustle.

Otherwise, underst& that being an independent contractor entails: