Aside from property, buying a car is likely the largest purchase you’ll ever make. The issue is, unlike most investments, vehicles don’t increase in value. They also aren’t cheap to run, as they come with a number of expenses, which can build up very quickly. Thankfully, while motoring is costly, your car doesn’t have to be a money sucker. When used correctly, it can earn an income and turn into a great side hustle. With that in mind, here are six ways to make money with a car.
Teach Others To Drive
As soon as teenagers turn seventeen, they want to learn to drive. However, as most parents know, these lessons can be quite expensive. That’s why many of us try to teach our own kids the ways of the road. If you have plenty of driving experience and nerves of steel, then you could offer your services as a substitute. Arguments are much less likely when you don’t live together.
Offer A Taxi Service
Unless you have a driving license, you must rely on public transport to get you from A to B. This is where you could come in. Companies like Uber and Lyft make it easy for you to become an independent taxi. While there are several requirements you must meet, as long as you do, you can pick whatever journeys whenever you want to, allowing you to work around your daily life.
Advertise It For Sale
The most obvious way to make money from a car is to sell it on. Unfortunately, most people make a loss when doing so, because cars depreciate from the moment they’re first driven. However, there are a few modifications, such as cheap private plates, that can increase the value of your vehicle. It’s also possible to reduce depreciation with regular maintenance.
Rent Out The Keys
Leaving your car empty is a huge waste of money. After all, there will always be people willing to pay to drive it. Rather than leave your vehicle to gather dust, you should rent it out to other motorists. Once you’re registered on a car share company, this requires very little work. All you have to do is set the time and place where the car needs to be picked up and dropped off again.
Share Your Parking Space
Just like an empty car, an empty parking space is a waste. Not only that, but it makes your house a target for burglars, as it shows that no one is home. The best solution to this problem is to rent out your parking space. Although this might be tricky to do in smaller towns, if you live in a large city or close to an airport, then your parking space could be invaluable to motorists.
Become A House Mover
Moving house is an incredibly stressful process. Because of this, most homeowners are grateful for a helping hand. If your vehicle is large enough to fit many things inside, then you should offer your services as a house mover. This is a quick and easy way to earn some extra cash. Since people usually move at the weekends, this side hustle fits easily around a full-time job.
If you’re short on cash, try making money with your car using the advice above.