With rising gas prices and vehicle maintenance costs, you might be finding yourself with less money in your bank account than you thought you’d have. Luckily, there are many ways to make money using your car that don’t involve making risky investments or risking breaking down on the side of the road somewhere. Here are seven money-making tips you can use to make money with your car:
Rent Out Your Parking Space
If you have a parking space in a crowded city, there’s a good chance that you could rent it out to someone nearby. People who live in condos and apartment buildings often pay a small fee to park their car on a nearby lot or garage, so why not get paid for it? Check online to see if any local business owners are looking for parking space rentals where you live.
Car Rental Service
Are you parked in your driveway? There’s money to be made! If you live in a big city, get on websites like Turo or GetAround that facilitate car rentals. While you won’t get rich, it can earn extra cash for expenses like gas and parking tickets. Additionally, if someone is renting your car while you’re at work (and you don’t want to pay for an extra parking space), make sure they have their insurance policy to protect themselves.
You also need to ensure that your vehicle is in excellent working condition before you rent it out. Check the engine and make sure that you’ve changed the oil and that the battery is fully working. Also, send your car to a glass repair service to inspect your glass windows for cracks and have them replace damaged windshields or other parts. The more detailed these steps are, the better off you’ll be when renting out your car—and believe us when we say that they’re easier than you think.
Equipment Transportation Service
Whether you drive a sedan, minivan, or SUV, why not get paid for it if you have space to spare in your car? A simple business idea is to start an equipment transportation service. If your client needs heavy equipment moved from location to location but has no vehicle of their own large enough to transport it, offer your services for a negotiated fee. It’s fast, convenient, and profitable for both parties involved.
Become a Taxi Driver
Taxi drivers make money by taking passengers from one location to another. They usually own their cars and buy passenger stickers for their car, which allow them to operate as a taxi driver. If you like meeting new people and don’t mind driving, becoming a taxi driver may be right.
Airport Shuttle Service
If you live near an airport or have a friend who can pick you up from one, providing airport shuttles for people may be a lucrative side hustle. Depending on your location, drivers can charge anywhere from $10 to $30, and many companies and individuals are looking for weekend drivers. A word to the wise: build a reputation in your community first as a reliable service—this will help get your name out there and keep customers coming back.
Become a Tour Guide
If you’re licensed to drive a tour bus, why not cash in on your knowledge of local history and your town’s natural beauty? Tourists are often willing to pay $50 or more per hour for local guides. If you don’t have your CDL (commercial driver’s license), see if you can offer guided tours as an unpaid intern—then, once you do get your license, start looking for opportunities to charge real money for your services. Check ahead about any permits you may need before starting your own business. And consider getting liability insurance just in case things go wrong when people are on board.
Deliver Food and Drinks on Demand
Do you spend a lot of time driving around town running errands, picking up friends and family, or driving the kids to activities? If so, consider signing up to deliver food or beverages on demand for a company like Caviar.
It only takes a few hours a week, it pays fairly well, and your car remains yours. It is also a great side gig for anyone looking to earn some money while going back to school full-time or working nights at another job.
If you are looking for ways to make money with your car, there are many choices. Whether you are looking to buy or sell used cars, drive for Uber or Lyft, or simply pick up some extra cash by renting out your car on sites, there are many unique ways to make money with your auto.