Ideas To Make Money With Your Car | Your Car Can Be An Asset

Make Money With Your Car

Make Money With Your Car

Behind buying property, buying a car represents the second biggest purchase most people make in their lives. However, from the minute a vehicle rolls off a forecourt, it’s starting to lose money, making car ownership one of the least economically sound investments we make. Indeed, a car will drop in value by 10% when it leaves the showroom, dropping a further 20% by the end of the first year and ending up being worth just 60% of its original price by year three.

From running costs to maintenance and depreciation, cars are an ongoing financial drain. So, wouldn’t it be nice if you could find ways to generate a little cash back and get a Return on your Investment (aka ROI) to help offset the outlay?

Below are a few ideas you could try to make a little money from your car and cover your outgoings.

Rent your car

Considering the massive runaway success of property rental sites like Airbnb, it was perhaps just a question of time before the sharing model would port over to vehicles too. Platforms like Turn and Getaround mimic the Airbnb model letting owners rent out their cars while they’re not using them – in turn, potentially generating a tidy sum for the owner. 

Food delivery companies

Uber Eats, Deliver, DoorDash… these days, many specialist food delivery companies are operating that all need drivers – meaning you could take a sideline job at night or other times when you’re not busy to build up some extra cash.

Sign up for ridesharing

While there’s nothing particularly new about the concept of ridesharing anymore – Uber was first to market back in 2009 with its primary rival, Lyft, entering the scene in 2012 – it’s only relatively recently the services have taken off in a big way. If you’re looking to earn some extra money in your free time, signing up for a rideshare service and using your car, almost like a taxi, can be a great way to build up extra funds.

Courier delivery

E-commerce has come to dominate the world of retailing in recent years, and as we all move our shopping habits more and more online, the demand for courier companies has exploded. Suppose you’re looking for an easy way to make money from your car or van. In that case, there is a wealth of delivery driver jobs websites that provide work for drivers – and most purely on a per-project basis, so you remain free to pick and choose the piece that fits best into your lifestyle or existing commitments.

Use your car for advertising.

So long as you don’t mind the idea of covering your vehicle with decals, using your car as a mobile advert for another company can be a very lucrative way of making additional money with next to zero effort. 

Services like Wrapify will put you in touch with potential advertisers who might be interested in featuring their logos or designs on your car. When you sign up, the service will automatically start monitoring the most journeys you make, then pass this data into its system to find possible matches. 

By Faizan Elahi Qureshi

Student of Digital Marketing.