Are you in need of quick cash? If yes, what options have you got? In plain sight, one of your best assets is your car. Whether someone else is driving it or you are, take note that there are many ways to earn extra money at your leisure using your car.
Making money using your car comes in many forms. Even though the most profitable opportunities typically require driving, monetizing your car does not always mean putting extra miles on your vehicle. For example, you can flip your car for profit.
For a little help, here are some legitimate and popular ways to pocket extra money with your car. Check them out!
Become A Ride-Hailing-Driver
Driving for a ridesharing app is a rational and realistic way to earn rcash with your car. You give customers rides from a certain location to another destination. Then, the customers pay via the app and you keep most of the earnings. It is quite simple, right?
However, it does not mean that becoming a ridesharing driver comes without its disadvantages. Ride-hailing drivers must first pass criminal background checks and have a good driving record. Also, they need to meet quality standards and the minimum vehicle year.
What’s more, ridesharing drivers are required to cover most expenses such as repairs, maintenance, insurance, and gas. Relying on where you live, there are a lot of companies you can work at as a ridesharing driver.
For instance, if you live in Nevada, making money with your car in Vegas driving for a ridesharing application is a great option. Here’s a list of companies where you can work as a ridesharing driver:
Rent It Out
When your car is not in use, you can rent it out for short-term use to tourists or travelers who don’t want to go with conventional rentals while they are in the city. The official term for renting your vehicle is car sharing or you can consider it as Airbnb for vehicles.
The disadvantage is that it can put more miles on your vehicle. Thus, extra wear and tear. Another thing, you won’t be able to use your car while it is rented out. Well, it’s obvious, right? Regardless, making your car available for rentals when not in use is an exceptionally profitable option.
A lot of people are uneasy with the concept of putting their vehicle at an auction for sale. It is very true in the past because car auctions have been regarded as more or less exclusive for people who are into the car trade business.
However, do not worry. As a matter of fact, if you want to make money using your car, you can simply put it into an auction for a quick sale. Car auctions are the perfect option if your vehicle is quite hard to sell privately.
If making money from car auctions is what you have in mind, the first thing you need to do is to reach out to the auction house and transfer your car there. You will be given enough time to bring your car to the auction house and their technicians will conduct an inspection.
Normally, you will have to pay a fee to the auctioneer for putting your car into the auction. Plus, you have to pay for the reservation fee and final percentage commission.
Here’s an interesting question, can you make money buying and selling used cars? Nowadays, there is a growing demand for used vehicles. And with the help of the internet, anyone can easily tap into a global market. Car lovers will have and car flippers will make money buying and selling used cars.
So, how to make money buying and selling cars . Theoretically speaking, the secret to car flipping is buying low and selling high. However, in reality, it can be more complex. As car flippers, you need to know the local and state automotive codes, where to find used cars for sale, and understand the local car market.
Also, you need to apply for a dealer license to make car flipping a legitimate and valid business. For you to find undervalued cards easily, the common places you need to look at are the following:
- Paper postings
- Newspaper Classifieds
There are many different ways to earn some real money using your car or a used car. For example, you can become a ridesharing driver for Uber and Lyft, make deliveries and run errands, lease out your car, put it in an auction, and more. If you decide to drive passengers, ensure that you gather all your documents beforehand to make the process easier. Nevertheless, your options rely upon the condition and age of your car, as well as the available opportunities in your area.