With the economy continuing to be in the slump, you may have contemplated about getting rid of your car for good and plugging yourself into the public transport network to get around.
Wait a minute!…
What if I could offer you ideas that could turn your car into a moneymaking machine?
Wouldn’t you like to get paid to drive your car?…
Making Money with Your Vehicle
There are many ways to profit from your car.
Offering transportation to school going kids and turning yourself into a driving instructor with your car are just two examples.
Thankfully, technology and some very innovative companies have made it easier for anyone to earn extra money with their cars by creating more opportunities.
Here are a dozen or so app and websites that help you turn your automobile into a cash maker…
1. Rent out Your Car
Helped by innovative websites like RelayRides, it is easy to become a one-man rental shop.
What the scheme encompasses is that the company would make available a ready pool of customers, whom they have previously screened and verified, and you just place an ad to announce your car’s availability for rental.
All these websites have steps in place to make this process as painless as possible. You can also learn more by reading my detailed post on profiting from car rental.
You begin by setting up your personal profile and you start placing ads. Anybody in need of your service will get in touch.
After agreeing on terms, you are now ready to draw out a rental agreement. It is always a good idea to meet up with the prospective applicant for driving license verification.
RelayRides undertakes to provide $1 million insurance coverage for every rental car it’s so that you don’t have to worry about potential damage to your car.
At the end of the leasing period, your car will be returned to some pre-designated place and time.
FlightCar Update: no longer available
There is also a new and interesting service provided by this company, FlightCar, in San Francisco.
Basically, what they do is to rent your car out as you fly out of town for either business or leisure.
So you will save on parking charges at the airport.
And what you will gain is the free wash before and after the rental, and a gas voucher worth $10 for every day the car is rented out.
If there was no taker for your car, you are still entitled to a free wash and parking.
As in the case of RelayRides, there will also be insurance coverage undertaken by FlightCar once the car is being rented out.
For rental payment, you will get $.35 per mile and there is also going to be a strict daily limit of 90 miles.
During that period, you will be absolved of all traffic fines and they will prop up the gas tank when the car is returned to you.
Whipcar Update: no longer available
Whipcar.com is another popular player in this industry.
They facilitate car rental among neighbors when a car is being idle.
Consistent with industry practice, insurance coverage and prescreening of drivers are provided, to make sure that you have peace of mind.
2. Give Rides
Thanks to apps, giving rides and earning money in the process has become very easy.
At sites like TaskRabbit, it is the other way round.
People define where to go and drivers bid to secure the job. In view of depreciation (not to mention the loss of time), I would rather recommend you to do the bidding if this can be part of your original trip.
Of course, if your bid is outrageously high, then it might worth it! Say you work in an industrial zone, and there are always requests to hitch a ride to their respective workplaces.
Take these on even if it means an extra 10 minutes from your original route.
3. Do Car Wrapping
Businesses put huge premiums on marketing and will pay you to wrap your car in ads.
My Free Car
If you have no qualm whatsoever to turn your car into a moving billboard, you might want to check out My Free Car.
Once you sign up with the company, the opportunity to make $400 plus every month is available to you as your car displays their advertisement around.
Factors like the number of hours you are on the road, the duration of the ad, the age of your car and where you live up going to decide on how much you get paid.
Adz in Motion
You can earn up to $500 a month by displaying an advertisement for Adz in Motion on your car.
To be eligible, the car has to be in good condition, and, more importantly, you have to be a daily commuter.
Free Car Media
Another big car wrap company where you can earn anywhere from $50 to $400 a month driving your wrapped car.
Their ads range from a rear window advertisement to a full-vehicle wrap.
This company pays you up to $400 a month depending on your vehicle type, commute, and ad campaign.
Their contract terms are usually 3 to 24 months. Your will receive your check at the end of each month.
Again, thanks to new technology and apps, you don’t have to go out looking for people to carpool.
Here is an app that does that for you:
Blablacar is an app that links people behind their wheels with hitchhikers looking for an inexpensive ride.
The rate is typically small at about $10 for every 100 miles covered, but you get to make some money instead of driving alone, which adds no economy value to either yourself or your car.
5. Turn Your Car into a Cab
If you are not the sort who enjoys drinking to the brink, the next time you and your company head for a party or a night out, volunteer yourself as the pre-designated driver — at a fee.
Obviously, you need to exercise self-restraint on those inviting drinks, but you will have money to take home when the night is over.
If your car can easily take in four to five passengers, at $10 per passenger, you stand to make up to 50 bucks as you enjoy your night.
6. Be a Delivery Driver
Fast food chains are always in urgent need for drivers; only check out those with competitive rates.
Or you can scan your daily papers for drivers listed under the transportation section in those classifieds.
What do you think? Have you ever made money from your vehicle,
Have you ever made money from your vehicle, perhaps using one of the methods mentioned above, and if so, was it worth it?…