Cars are not only expensive to buy, they’re also expensive to own and maintain. As a car owner, you’re responsible for all sorts of costs including gas, oil changes, new tires, and more costly expenses such as mechanical issues. If you want to turn your car from a money pit into a money maker, there are all sorts of ways to do just that.
Here are five ways you can start bringing in cash with your car.
- Become a Rideshare Driver
Uber and Lyft are some of the most commonly used apps around the globe. Instead of being a passenger using the app, you can instead make money by becoming a rideshare driver. People are always requesting rides and looking for on-demand drivers who can get them to where they need to go.
If you need money now, this is a great side gig to consider. Depending on where you live, you can easily make $15 per trip, though you’ll find the most money is made in and around big cities during the weekends and evenings.
Both Uber and Lyft have certain qualifications that you must meet before becoming a driver. These include:
- Owning a 4-door car that’s relatively new (not older than 10 years)
- License and insurance
- At least one year of driving experience
- Over the age of 21
There are more in-depth qualifications for both apps so you’ll want to read the terms and conditions before applying. If you do meet the requirements, apply and you can be out on the road making money in no time!
- Become a Food Delivery Partner
Food delivery is a convenience that thousands of customers take advantage of each day. If you don’t like the idea of transporting people to and from, you may be more willing to use your car to transport food. There are several apps that pay drivers for delivering food including GrubHub, UberEats, and DoorDash.
Using these apps, you can make as much as $25 an hour. You are paid a fee for each delivery as well as a mileage-based fee. In certain cities, drivers may qualify for a minimum hourly rate.
The requirements to become a food delivery driver are less restrictive. Your car has to be 1997 or newer, and you only have to be at least 19. If this is a side gig that interests you and you’re looking for an easy pay boost, apply today.
- Deliver Groceries
If you own a car and know your way around local grocery stores, sign up for a grocery delivery company like Instacart. As an Instacart partner, you’ll be a grocery shopper and you’ll deliver groceries. As a full-service shopper on Instacart, you’re able to make your own hours and set a schedule that works best for you.
Working for Instacart, you’ll earn money for each delivery that you complete. Customers can also tip you, which adds to your earnings per trip.
- Rent Out Your Car
Just as you can rent out a room in your home, there are also mobile apps that allow you to rent your car. Two of the top car sharing apps are Turo and Getaround. To start making money on the apps, all you have to do is list your car, upload photos, and provide a thorough description of the vehicle. You determine a schedule of when your car is available, along with a per day rental price.
Turo says that its car owners earn around $720 a month, but this is highly dependent on the type of car an how often it’s rented. There are very few restrictions to using the app. You must have a clean car title, and it must be at least a 2005 model and have less than 130K miles.
Getaround is very similar to Turo, though the app charges a $99 fee (Turo is free). Members also have to pay $20 a month to continue using the app. Getaround car owners make 60% of their rental fees, and the company guarantees earnings of at least $75-$200 a month.
- Deliver Amazon Packages
Ever wanted to be your own boss, set your own schedule, and deliver packages? AmazonFlex allows you to do just that. You’re part of the perk that allows Amazon users to get their packages the same day they’re ordered. As an Amazon carrier, you can make $18-$25 an hour.
Working as an AmazonFlex driver is simple. You get packages and then deliver them. During delivery, you’re responsible for scanning the barcode so that packages can be tracked. Then you move onto the next delivery address!
If you know how to do it, you can turn your car into a well-oiled, money-making machine. Consider these options if you’re looking to make extra money while working on your own schedule.