How to Make Extra Money With Your Car

Title loans in North Carolina or ridesharing in New York can be great ways to leverage your vehicle to access short-term funding or quick cash. But did you know that there are other ways to make extra money with your car? Vehicular side hustle come in many forms, and there are opportunities out there that won’t require you to put extra miles on your car.

Mobile Billboarding

One of the classic ways to make money with your car is to wrap it in advertising. This can be a passive income opportunity that doesn’t increase the total miles driven on your vehicle. Companies will pay you to wrap your car in their branding and drive around as usual. The amount you earn will depend on the level of exposure your vehicle receives, so this may not be the most lucrative opportunity out there, but it is an easy way to earn some extra cash.

Put It Up for Rent

Another option is to rent out your car. There are several car-sharing platforms out there, such as Turo and Get around, that allow you to rent out your vehicle when you’re not using it. You can set your own prices and availability, and the platform will take care of the rest. This can be a great option if you have a second car that you don’t use very often or if you work from home and don’t need your car during the day.

Rideshare

If you’re comfortable with the idea of driving strangers around, you could also consider becoming a rideshare driver. Companies like Uber and Lyft allow you to use your car to give rides to people who need them. You’ll need to pass a background check and meet certain vehicle requirements, but once you’re approved, you can start earning money right away. This is a great option if you have some free time during the day and don’t mind being on the road.

Make Deliveries

For those who don’t want to drive strangers around, you could consider becoming a delivery driver. With the rise of online shopping, there are more opportunities than ever before for people who want to deliver packages for a living. Companies like Amazon and FedEx hire drivers to deliver packages to people’s homes and businesses. You’ll need a reliable vehicle and a clean driving record, but once you’re hired, you can start earning money right away.

Repair Other Cars

If you’re handy with a wrench, you could also consider becoming a mobile mechanic. You can use your car as a mobile workshop and offer your services to people who need help with their cars. You’ll need to have the necessary tools and equipment, but once you’re set up, you can start advertising your services and earning money right away. This is a great option if you enjoy working on cars and want to be your own boss.

Seek a Title Loan

Finally, if you’re looking for a quick infusion of cash, you could consider getting a title loan. Title loans allow you to use your car as collateral for a short-term loan. You’ll need to have a clear title and meet certain income requirements, but if you’re approved, you can get cash in hand within a few hours. Keep in mind that title loans can be risky, as the interest rates can be very high, so it’s important to make sure you can pay back the loan on time.

In Summary

There are many ways to make extra money with your car. Whether you’re looking for a passive income opportunity or a way to earn money on the side, there are plenty of options out there. From wrapping your car in advertising to becoming a mobile mechanic, there’s something for everyone. Just remember to do your research and make sure you’re comfortable with the risks involved before you get started.

FAQs

Q: What are the requirements to become a rideshare driver? 

A: To become a rideshare driver, you will need a clean driving record, a valid driver’s license, and a car that meets the company’s requirements. You will also need to pass a background check and have insurance that meets the company’s standards.

Q: Can I rent out my car if I still owe money on it? 

A: This will depend on your lender and the terms of your loan. Some lenders may allow you to rent out your car, while others may not. It’s important to check with your lender before you start renting out your car.

Q: Are title loans a good idea? 

A: Title loans can be a good option if you need cash quickly and have no other options. However, they can also be very risky, as the interest rates can be very high. It’s important to make sure you can pay back the loan on time and to explore other options before you consider a title loan.

Q: Can I become a mobile mechanic without any experience? 

A: While it’s possible to become a mobile mechanic without any experience, it’s not recommended. You will need to have a good understanding of car mechanics and be able to diagnose and fix common problems. It’s a good idea to get some training or experience before you start advertising your services.

Q: How much can I earn by renting out my car? 

A: This will depend on the platform you use and the level of demand in your area. Some people are able to earn a few hundred dollars a month, while others may earn less. It’s important to set realistic expectations and to factor in the cost of maintenance and insurance when calculating your earnings.

Q: How do I know if my car is eligible for advertising? 

A: This will depend on the company you’re working with and their specific requirements. Generally, your car will need to be in good condition and have a clean exterior. You may also need to meet certain age and mileage requirements. It’s a good idea to check with the company before you apply.