5 Simple Ways To Make Money From Your Car
Have a car? Then you're already on your way to raking in the dosh. Here are 5 ways to earn some extra cash from your car.
1. RENT YOUR RIDE
Not driving every day? A service such as Car Next Door lets you hire out your car to people in your neighbourhood when it would otherwise be dormant.
To list your car, you’ll need to pay a monthly $60 membership fee to cover insurance. Then they’ll install a lockbox for the keys, so you don’t need to be around to hand them out.
Car Next Door estimates you can earn about $300 a month once you get established, but this depends on how often you’re willing to part with your wheels.
The bad news? Your ride has to be less than 15 years old – sorry, your 1993 Ford Falcon is out.
2. DROP THINGS OFF
Got a little spare time on your hands? Doing a spot of delivery work with a company such as Zoom2u or Sherpa could be a lucrative way to spend it.
Achieving delivery-driver status can take a little bit of effort (you’ll need a police check, comprehensive car insurance and an ABN) but you can earn a few hundred dollars a month, depending on how much time you put into it.
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3. PICK UP PASSENGERS
Friendly on the environment, ridesharing services can turn your commute into cash. Aussie start-up Shebah, a women-only ridesharing app, involves women driving women (and their kids) to help provide a safe space for those who feel uncomfortable driving or taking a taxi or Uber.
Setting up your profile can be a bit of a hassle, as you need to get special rideshare insurance, apply for a working with children check, and – in some states – obtain a specific commercial driver’s licence to take passengers.
But drivers keep 85 per cent of the fare and you can also get free financial advice. Bonus!
4. HIRE OUT YOUR DRIVEWAY
OK, technically you don’t need a car for this, but driveway owners can get in on the side-hustle action too, with websites such as Spacer or Parkhound.
These online marketplaces allow you to rent out your driveway on a monthly basis to people who need a place to park. Genius. Sign up your space – it only takes ve minutes – and set the amount you want. You’ll then get requests from users, which you can accept or reject. Money-wise, the amount you earn depends on what you have to o er. Undercover, lock- up garages in the CBD will rake in more than a driveway in the middle of nowhere, for example. Spacer estimates a lock-up garage will go for about $200 to $300 per month – but keep in mind the company then takes a 15 per cent commission.
5. BE A BILLBOARD
If you aren’t hung up on aesthetics, companies such as OpenAds and Wrapify can “wrap” your car with brands’ logos and pay you for the trouble. It’s free to become a driver – all you need to do is ll out a form about your driving habits, lifestyle and car.
They then match you with an ad campaign and pop it on your vehicle. This is only lucrative if you drive a lot, as you’re paid based on the time you’re on the road.
You can earn an estimated $200 to $400 a month, so it can definitely cover petrol and insurance costs.
