Nowadays owning a car can be exciting due to the recently very low gas prices and all the new high quality cars that are coming out. With the asset-sharing revolution, if you don’t own a car it is no big deal. In addition, there are now creative ways to earn money because you own a car.
From being a taxi service for your friends and peers to now being able to rent out your car when it is idle, we are going to share with you some creative ways that allow you to earn easy cash for owning a vehicle.
1. Take Someone Else for a Ride
“Be your own boss and get paid in fares for driving on your own schedule,” Uber says on their website. Services such as Uber and Lyft allow you to become a peer-to-peer taxi service of sorts. They turn drivers looking for cash, into money-making chauffeurs.
You do not need any special kind of license, like a chauffeur license, to be eligible to sign up for a wide variety of peer-to-peer taxi services. All you do is sign up on the Uber app as an independent contractor and the app does the rest for you. Uber will offer you nearby fares that are individual to your availability.
Like everything else in the world, this isn’t the most perfect job opportunity but it is something. Uber has said in the past that Uber contractors made an average of $25 an hour as drivers. That may seem like a lot until you subtract the gas money you need to fill up after that hour and the cost of maintenance on your vehicle you may need. Despite these factors, it is a very popular way to make money by using your car. This doesn’t seem to be changing unless the industry experiences tighter regulations.
2. Feed the World
Another way you can make money using your car is delivering food. This takes away the feeling of discomfort because of strangers in your car and adds the quiet presence of food instead. There are a vast majority of upstarts that are looking for Uber-like drivers. “Postmates” features an app that allows drivers looking for cash, the opportunity to pick up and drop off takeout orders. After the driver has been accepted, they will then be given the final destination of where to drop the takeout off at.
Along with being a taxi-like driver, delivering takeout also comes with some challenges. Convenient parking may not always be available at the restaurant you need to pick food up at. Differing from peer-to-peer taxi services, food delivery services often have a peak period during the day that occurs between 6 p.m. and 8 p.m. If you work a 9-to-5 job and are just looking for some extra cash on the side, this peak may not be an issue for you because you are most likely going to be available. A bonus is the tips you may receive from satisfied customers.
3. Getting By on Your Own Supply
Another way to make money on the side with your car is being a general delivery service. A service by the name of Instacart is a great way to get started. Instacart promises independent contractors around $25 an hour just for shopping or delivering grocery orders. You must be at least 21, have a Smartphone and be able to lift up to 40 pounds. If you are just a personal shopper, you won’t even need a car.
This is a growing business opportunity. Companies such as Uber and Amazon.com are supposedly researching and testing crowdcourced delivery services. It is a win-win situation for businesses that don’t offer delivery, shoppers and drivers who are looking for cash, and people looking for convenience.
4. Share the Wheel
If you want to ear money and don’t particularly use your car all the time, you could rent out your car. RelayRides and Getaround are companies that offer car owners the opportunity to rent their cars out.
If you are not using your car, then renting it out can make a lot of sense and be a great opportunity. One downside from allowing people to rent your car is the maintenance you might have to deal with even though the customer has to refill the gas tank before returning it. They could be a bad driver and wear the car out or you may have to experience oil changes more than usual. Despite the maintenance downfall, out of these four options, this one requires no physical activity or work from the independent contractor. If you choose to use Getaround, you must have an automated unlocking device installed in your car.