Make money from your car, learn how with our advice.
Running a car can be expensive, but did you know you can make money from your car? You can make money renting out your driveway, but what about the vehicle which sits upon it?
There are lots of fun ways you can make money with your car. From becoming a driving instructor, selling a rare number plate or showing a classic car. In fact, we cover a lot of the more exotic ideas in this fun article here.
But if you want some easy and realistic ways to make money with your car, here are five possible ways:
If there are times when your car is just sitting on your driveway. Or parked outside your house doing nothing, then renting it out is something you should consider.
You could be charging people in your local area to rent out that space. There are also specific apps to help you do just that.
For example the Drivy app offers you the opportunity to organise ‘check-in’ and ‘check-outs’ with people who are interested in renting your car. Even better, you can earn 3x more if you use ‘Drivy Open’. This allows users to book, locate and unlock your car using the app.
Essentially these apps allow your car to rent itself out. All you have to do is sit back and wait for the money to roll in. You could also look to list your car on Turo, which has only recently launched in the UK.
Insurance is also provided by the company themselves. This replaces any previous car insurance while the rental trip is happening. You can set your price but apps like Drivy and Turo will take a portion of your profit.
In a similar vein, you might want to check out Karshare. It’s like AirBnB for cars. Allowing you to leave your car at the airport for someone else to rent whilst you’re away. Admittedly it’s only something you can do while you’re on holiday. So it’s not a regular source of income, but it’s another way you can make your car pay for itself.
You know you’ll sometimes see an advert on a bus or a logo on a taxi?
Well companies will pay you to put ads on your car. Turning your vehicle into what is, essentially, a portable billboard. It’s called vehicle wrapping and you can actually make about £100 a month doing it.
In order to be considered you’ll need to have:
- A clean driver’s licence
- A current MOT and road tax for the vehicle
- Valid insurance for the duration of the contract
- No driving convictions
Adverts on your car can be added and taken off without spoiling your paintwork. And if anything does go wrong, there is insurance covering you.
Each company works differently, some ask you to drive a certain amount of miles before you get paid. Whereas others will match the advertising to your usual routine.
However, do be careful of scams. Car wrapping seems to appeal to scammers, so make sure you fully research a company before handing over any details. Once you do find a legitimate company, it’s an easy way to earn a bit of extra cash.
Being a courier is a great way to make money with your car. Unlike some other car related jobs, such as becoming a driving instructor, you don’t need to quit your day job. You simply work as and when you can.
As a courier you’d be carrying parcels in your vehicle to their destination. Ideally on time and with minimum hassle.
Couriers are generally considered self-employed, although they are hired by various companies. Each job is recorded by the company, and each courier sends their invoice to them at the end of the week. Working as a freelancer means you can start in your spare time and work around your current job.
Obviously, if you’re planning on delivering a lot of items then it makes sense to have a bigger vehicle. You don’t necessarily have to deliver big, bulk items but it’s important to have sufficient room for a few items.
This is a very flexible way to make a little extra income on the side using your car.
Remember, if you do become a courier, don’t forget to notify the Inland Revenue so you’re paying the right amount of tax and won’t get a large fine later.
Click here to find out more about making money as a courier.
Lots of parents have to get to work in a morning and as a result are are unable to do the school run. In this situation many are happy to pay for a ‘school run nanny’.
If you were to take on such a role, it would be your job to pick the kids up from school. Then supervise them as they do their homework until their parents return home from work.
You don’t need any formal qualifications to do this, but it will help if you have experience as nurse or teacher. Something that reassures parents that their children will be safe with you.
Whatever your qualifications, though, you’ll definitely need the following:
You may need to alter your car insurance as well to cover the child passengers. If this is the case, make sure the parents reimburse you. Speak to your insurer to find out how to do this.
The most effective way to get a job is through a nanny agency.
Click here to learn more about making money doing the school run.
If you’ve got a few hours spare during the day, why not make some money as an Uber driver?
You’ll get paid to essentially function as a taxi in your local area, and you might even have a few interesting conversations as you earn.
To become an Uber driver, you’ll need to fit the following criteria:
- Be at least 21 years old
- Have a full UK driver’s licence
- And quite often you’ll need to show you have a certain amount of experience driving around in the city that you’re based
- You’ll also need a clean licence – you can see their points policy here
So, if you could fit in around two hours a night, five days a week, you could be earning over £400 a month on the side.
Ask your money-making questions
The Magpie community is full of savvy money savers and makers – and now’s your chance to ask your burning questions!
The new MoneyMagpie Messageboard brings together the Magpie community, MoneyMagpie team, and vetted experts to make sure your essential money-making questions get answered.
Take a look here and register to post a new thread or reply.