These days, owning and operating a car can be a costly affair when you consider gas bills, insurance payments, parking charges, maintenance and if you’re not careful, speeding tickets. Although cars provide us a sense of freedom and independence, they still cost us a significant sum of money per month.
That being said, what if I told you that you could make money from your car instead of just spending on it? That’s right, there are several interesting ways of earning money with your car and some of them can even become full-time careers. Don’t quit your day job just yet, but if you want to try your luck in the car industry, here are 5 ways!
The first and most logical way of making money with your car is to enlist as a driver for Uber/Lyft or a similar “peer-to-peer” ridesharing company. Think of yourself more as a freelance taxi driver who uses their own car and works their own hours. The Uber/Lyft idea is a great proposition for people who want to drive all day and get paid for it or for people who are looking for additional income.
Of course, there are downsides. Your car will need maintenance more often due to the extra mileage. You will also quickly add miles to the car which will lower the value on the second-hand market and you will need to work long hours to be profitable all of which you will need to thoroughly consider before you apply. These companies often have strict requirements for the age of the vehicle and its space on board.
If you don’t know what Turo is, think of it as an Airbnb for cars. It is a cross between rent-a-car and ridesharing and its possibly the best way to avoid rental car prices and the extremely boring cars you normally get. When you enlist your car on this platform, somebody will rent it and use it for a couple of days and you will get paid. It sounds easy and trouble-free and in most cases, it is, however, there are a few downsides.
First, you will give your car keys to total strangers, and even if the Turo claims that you are protected, it is still a big leap of faith for most car owners. There will certainly be some dings, scratches or worse which you might notice later down the line. Perhaps not a great idea for your dream car! The idea is pretty neat though, but it still needs some time to be fully accepted by many car owners. That said, Turo states that they’ve got 170,000 privately owned vehicles already listed on the site so it works for many.
Street racing for money
First, I’ll say that Viral Vehicles does NOT condone any illegal street racing or dangerous driving on public roads. That said, this unorthodox method of earning cash is rather interesting, although definitely illegal. Owners of souped-up cars can make bets or wagers on who will win races. This has been featured in films like The Fast & Furious and weirdly its based on reality! For decades, people have been doing this and even if street racing is highly prohibited and dangerous it still happens across the world.
The most serious street racers can earn big bucks by challenging the right opponents. There is always somebody who claims to be faster and has cash in hand. Back in the heyday of muscle cars, ambitious owners could pay their monthly rent just by winning a few street races each month. Of course, the downsides are obvious and if something goes wrong you could get injured, killed or incarcerated and get your car impounded and even destroyed by the police. That’s one method probably best avoided!
Weddings, Videos, and Commercials
In contrast to the previous item on our list, here is something much safer and more sensible – renting your car for weddings, videos or commercials. If you own an especially nice classic limousine, convertible, custom or even an exotic car, you could try to rent it for weddings, music videos, commercials or even movies. Wedding organizers are always looking for elegant, often white sedans or convertibles for the wedding ceremony and you can earn decent pay for just a couple of hours of work. Also, TV, advertising and movie producers are on the lookout for interesting and unique cars which they can include in their films and shows.
To be perfectly honest, there aren’t any downsides if you choose this route. The cars will be looked after, insured by the production companies, in most cases, they will be used for static shots and you will get to be on the set and maybe meet some celebrities.
Live in your car/Van Life
We all know that rent prices are pretty crazy these days and a big part of many peoples paycheck is going to the landlord each month. Let’s say you are fed up with this and you have an old van lying in your back yard. Do you scrap it? Why not turn it into a small but perfectly organized camper and never pay rent again!
As a response to raging rent prices, more and more people are looking for alternative ways of living and transforming old busses and vans into modern motorhomes is one of the most interesting so far. The advantages are numerous, you are the owner and so no more rents, you can move anytime and you will have the best view at the beach by far!
Of course, comfort is questionable since a van will not offer as much space as an apartment and cold nights are much colder but people are learning to live with it. If you are a freelancer or your job doesn’t require you to be at one place all of the time, this is an interesting proposal and cool way to live an alternative lifestyle!
Are there any more ways? Let me know in the comments.