Five (5) Ways to Make Extra Income Using Your Car
Do you have a car? If your answer is “Yes,” then chances are you could be making extra money.
When you are bringing in extra income, you have more options with your money. Your additional income could go toward paying off debt (student loans, home mortgage, credit card debt, etc.), paying your bills, or reaching your financial goals much faster, such as saving for retirement or becoming financially independent.
When reviewing your overall financial health, having a budget is great, but you can only cut out expenses in your budget by so much. On the other hand, you can increase your income infinitely. If you have a car, these are five different ways you can earn extra income:
1. Become an Uber/Lyft driver
If you are a safe driver and are comfortable with other people riding in your car, becoming an Uber or Lyft driver could be the right choice. You can set your schedule and work around your priorities. Unless you are helping a traveler put their luggage in your trunk, you will never have to leave the comfort of your vehicle.
2. Deliver food to make extra cash
There are numerous ways to make extra money by delivering food. A few of the top picks are Doordash, Uber Eats, Grubhub, and Instacart. You can choose to pick up food for a customer through these platforms and drop it off to them for a predetermined rate. Many times, you will also receive a tip from the customer after delivering the food.
In some cases, you may not need a car to deliver your customer’s food. If you live in a big city and the restaurant and customer location is convenient for you, you can walk, use a bike, motor scooter, or even take public transportation.
Read this honest review by blogger Choncé Maddox about driving with Doordash.
3. Rent out your car
Suppose you have a car (or second car) that you barely utilize. In this case, you can rent out your car on Turo to earn extra income.
Turo offers ways to maximize your earning potential by making your car available to anyone using the Turo app. While traditional car rental services are still around, customers like Turo can choose the exact car they want. So whether you have a compact car or a minivan, someone is looking for your particular vehicle for their specific purpose or price preference.
Are you ready to sign up? Click here to learn more about how to rent out your car on Turo.
4. Help people move out of their home
According to the United States Census Bureau, the average person is expected to move about 11 times in their lifetime. If you have a big truck or a large-sized SUV, you could consider the option of helping people to move out of their homes. Using your car to transport valuable items from one house to another will allow you to make extra money and assist a friend or family member in need of some extra hands.
You can post on social media or let your family and friends know that you are willing to help them move to make extra money.
5. Drive college students home at the end of their college semester
It’s that time of the year where college students are heading home for their summer break. If you are a college student or have friends who are college students, you can drive them home. You can set an affordable price that will allow college students to book a ride with you to help them get home safely and without the hassle of going through a third-party app. You can advertise your service via word of mouth or via social media to promote your side hustle of driving students home for the summer.
This option typically will work if you live near a college campus and only have to drive a couple of hours away from the campus. For example, if you live in Atlanta, GA, and a student has completed their college semester at Clark Atlanta University but plans to go home to Warner Robins, Georgia, it may be worth the extra cash of taking them home. However, if a student is heading to Chicago or Florida, it may not be the best option. It would help if you weighed the pros (extra money) and cons (driving distance and gas) of driving students home before promoting your services.
What are some other ways you use your car to earn money?