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Are you wondering how you could turn your car into a money making machine?
Then you’re on the right page as I’m about to reveal 13 best ways you can make your car work for you.
Whether you’re not using your car at all or want to get a job as a driver, we got an option for you.
Let’s jump right in to get all the information you need to turn your car into a source of income – passive or active.
How Does it Work When You Rent a Car?
Renting a car is basically a source of passive income. You just need to set up your listing on online car rental platforms once and lay back while people use your car.
What’s best about renting your car online is that the rental platforms provide you with tools to automate the rental process. Most of them have:
- An integrated calendar which automatically gets updated when people book your car
- A convenient messaging platform allowing you to communicate with your renters effectively.
- And most importantly, safe and reliable payment processor.
How Much Money Can You Make From Renting Your Car?
The amount you can earn by renting your car highly depends on your vehicle – its type, age, make and model.
13 Best Sites & Apps to Make Money with Your Car
5 Ways to Rent Your Car & Make Money
(25% fee per rental)
HyreCar partners with Uber and Lyft, offering drivers to rent your car to drive for ridesharing apps.
This type of partnership allows you to get long-term rental requests and sit back as your car makes money for you.
The drivers are carefully vetted before granting them access to HyreCar, so you don’t have to worry about that part either.
Compensation: You will get 75% of your earnings
(40% fee per rental)
Getaround is an online car sharing platform. It allows you to list your car for rent and earn money while other people drive your car.
When you rent out your car via Getaround, you don’t ever need to meet the person who rented your car. Yes, you’ve heard it right.
Insurance: Trips are covered by a $1M insurance policy.
Compensation: You will receive your compensation – 60% of your bookings – by check or via PayPal.
(7% – 40% fees per rental)
Turo is one of the largest American car sharing companies allowing you to earn money by renting out your vehicle online.
You can estimate your potential earnings before you even list your car using Turo Calculator.
When you list your vehicle on Turo, you have the freedom to set your own daily price or apply Turo automatic pricing.
Insurance: You’re covered with up to $750,000 in liability insurance coverage from Liberty Mutual.
Compensation: Accessible on your PayPal account within 24 hours after your client finishes their trip with your car.
(20% fees per rental)
SocialCar is the leading peer-to-peer car rental platform in Spain. It allows you to list your car and earn money while travelers drive your car.
Renting out your car through SocialCar is easy. Simply list your car uploading images and description of your vehicle. You will also be able to set your pricing to your listing.
Once you receive requests from drivers, you can choose to approve them or reject based on other users’ reviews about them.
Insurance: Your rental car is insured with up to €50M coverage for theft and damage.
Compensation: You will get 80% of total rental sum to your bank account monthly.
(5% fees per rental)
Fleet is a large car sharing platform in Ireland connecting you with people who are seeking rental cars.
Whether you own an affordable, business class or luxury vehicle, Fleet will provide you with drivers.
Insurance: Your rental car is insured by AXA.
Compensation: You will get paid 95% of your daily car rental fee by direct deposit.
Alternative Ways to Make Money from You Car
6. Make Money with Advertising On Your Car
(Earn around $200-400 extra income per month)
When you need your car for your daily commutes, placing advertisements on your car is a great source of extra income.
But how to transform your regular car into a moving advertising board? The answer is Wrapify.
Here’s how it works:
- Use the Wrapify app on your iPhone or Android to apply for the available campaign in your area
- Next, Wrapify will wrap your car with an advertising banner
- Finally, activate the Wrapify app while driving to track your driving time
You could earn around $200-400 extra income per month driving a vehicle wrapped with advertising banners.
And you will get paid via direct deposit at the end of each week.
- You can earn extra cash just by your usual everyday commute.
- There are no signup or registration fees that you have to pay.
- Once the campaign is over, you can have the wrap taken off and get started with another campaign right away.
- Wrapify doesn’t damage your car. Once the wrap is taken off, your car is in its original condition.
7. Pick up Scooters
(Up to $8 per scooter)
If you have a larger vehicle, such as a pickup truck, you could partner with Lime to pick up their scooters.
Your responsibility as a Lime Juicer is to pick up Lime scooters from the street for a charge. You should also return the scooters back to the streets when they are fully charged.
You could make on average $8 per scooter and get paid weekly.
8. Help Move Houses
(Around $30 per hour)
If you own a larger vehicle, like a pickup truck or a truck, you can earn money helping people move houses.
Dolly is an online platform connecting you with people who are seeking people with trucks to help them move. As a Dolly helper, you’ll typically get gigs to move furniture or large home appliances.
You can expect to make $30/hour delivering or moving things with Dolly.
Dolly typically issues payment to helpers on Fridays for previous week’s work via PayPal.
9. Deliver Food
(Earn up to $1,500 weekly)
Delivering food gains more popularity day by day. You can sign up for a Postmates fleet and deliver food and grocery orders from local restaurants and grocery stores.
Postmates pays you a minimum of $4 per order and $1 for each pick-up and drop-off. Additionally, you’ll get paid $0.10 for each minute you’re waiting for your order to be prepared.
In total, as a Postmates courier, you can expect to earn up to $1,500 weekly and get paid via direct deposit.
10. Deliver Packages
(Average $12 per hour)
You can also earn money delivering packages while traveling. HeyParcel is a crowd shipping platform connecting you with senders who need their parcels delivered in another city/state.
Here’s how it works:
- Senders make requests in the HeyParcel app (for iPhone or Android)
- You as a traveler can accept these requests when you’re heading towards their city or desired drop-off point.
When you sign up as a ‘traveler’ you can set up your pricing for shipping packages while traveling.
(Average $8 per hour)
Carpooling is a go-to option for many people when they need to transport from one place to another.
Lyft is one of the most popular carpooling companies allowing you to transport people on demand.
As a Lyft driver, you’ll get your earnings on your debit card weekly. However, you can use the Express Pay feature to withdraw your funds within a couple of hours.
12. Work as a Shopper
(Earn on average $1,500 per week)
Instacart allows you to become a personal shopper and earn money for shopping on other people’s behalf.
What you’ll be doing as an Instacart full-service personal shopper is collecting items in specific stores and delivering full orders to customers’ doorsteps.
As an Instacart personal shopper, you can expect to earn on average $1,500 per week. Plus, you can keep 100% of customer tips.
Moreover, Instacart gives you a range of opportunities to get various bonuses. For instance, you will get a $3 bonus for every 5-star rating.
13. Provide Transportation for Children
Busy parents usually need help driving their children around – from/to school or other extracurricular activities.
HopSkipDrive provides you with a platform connecting with such busy parents.
As HopSkipDrive Care Driver, your responsibility is to drive kids to predetermined locations safely and in a timely manner.
Being a care driver, you will earn $32/hour, plus bonuses.
How to Get Best Insurance for Your Car?
Most of the car rental companies provide insurance for your rental vehicle, which is paid by renters. But not all of them do, so you need to carefully check the details before listing your car on any platforms. If the rental company doesn’t provide the insurance, you’ll need to get an additional insurance and cover it yourself.
While there are a great variety of car insurance companies out there, finding the one that will match your needs may seem like a complicated process.
Do you imagine yourself checking 2,500 car insurance companies and comparing their offerings one by one? Probably not.
That’s where Carinsurance.net comes into play, simplifying things for you. It provides you with a platform that compares car insurance quotes for you, so you can choose the best offer for you.
Just enter your car details at Carinsurance.net for the platform to run the comparison and show you all available options tailored to your needs.