So you’ve bought a car, paid off your financing and you officially it—now what? Your car is probably still costing you a lot of cash because you have to maintain it, repair it and pay for fuel. Sadly, those costs can add up and before you know it, you’ll be struggling for cash because your vehicle is just too expensive to operate. Thankfully, there are plenty of ways to make a bit of extra cash with your vehicle, and here are a just a few of those ideas to give you a hand.
Rent Your Car
There are plenty of services that let you rent your car out for a bit of money. Depending on the quality of your vehicle, you could get a pretty sizeable chunk of money each time someone uses it. This is perfect to not only reduce the costs of your vehicle, but you could use it as an excuse to reduce your dependency on your vehicle by walking, taking public transport and cycling.
Rent Parking Space
Since you own a car, you probably own a parking space. If it’s in the city or in a prime location, then renting out that parking space could give you a lot of money everytime someone uses it. Just remember that you need a place for your own car as well, so clear out that dusty garage and utilise it for its intended purpose and not a storage dump!
If you need a large sum of cash quickly, then consider getting a title loan. You essentially put your car title up as collateral and you get a chunk of money that’s usually around the value of your vehicle. This loan can give you a nice boost of cash to pay for emergencies but keep in mind you probably have to pay interest on the loan and you should never borrow money you can’t pay back.
Advertise With Your Car
If you don’t mind wrapping your car in advertisements, then consider contacting advertising companies and asking if they’d be willing to pay you for marketing their brand. They’ll come to your car, paint all kinds of advertisements and banners over it, then you just use your car as normal and let the money roll in. It’s probably not the most glamorous way of making cash with your car, but it certainly works.
If you’ve got a knack for driving and your vehicle is presentable, then consider working for a private transportation company. It usually pays out a decent amount of money, but keep in mind that you have to cover your own fuel costs and keep your car in good condition which could add some additional expenses.
Become a Courier
Much like being a private transport driver, if you’re fine with paying your own fuel costs and picking up packages for people, then you could become a private courier. Depending on the importance of the packages you’re carrying, it could be a profitable side job to invest your time in.