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Using Your Car to Bring in Extra Money

16 January 2019 No Comment

We all wish we could bring in a little bit more money. Maybe you want to go on a nice vacation, or you want to generate some extra income during retirement. Whatever the reason, you want some extra cash, you just don’t know how to go about doing it.

If you’re the owner of a car, you’re in luck. There are now plenty of ways that you can use your vehicle to bring in some extra cash. Below are a few options that you can try. Not every option is suitable for every person, so check out them all and see which ones work best for you.

Get a Driving Job

One of the first options you can consider is getting a job that requires a vehicle. There are two major categories for these types of jobs. First, you can get a job making deliveries. For example, there are likely some local restaurants near you that could use some delivery drivers. Doing this a few hours each week will help you to bring in some extra cash, especially if you get good tips. Or, in some places it’s possible for you to deliver packages. Check out Amazon’s Flex program and see if it’s in your neighborhood.

The other type of driving job is delivering people. Apps like Uber and Lyft make it easy for someone to get a ride and signing up to be a driver for those services isn’t difficult. You typically just need to have a decent car and a clean driving record. Then you can set your own schedule and drive people around in your free time. If you don’t mind having strangers in your car and putting some extra miles on it, this can be a great way to earn some extra cash in your spare time.

Advertise on Your Car

Your next option is to turn your car into a mobile advertisement. Many companies will pay to place an advertisement on your car, giving them exposure every time you drive around. For this, you really don’t have to do anything. You just have to be okay with a large ad taking up space on your car.

If you go this route, make sure the advertising agency you’re working with is legitimate. There are a lot of scams out there related to advertising on cars, and you don’t want to drive around with an ad on your car for nothing.

Rent Out Your Car

If you’re the owner of a car, but you don’t drive it much, you can consider renting it out to earn some extra cash. There are plenty of people who are looking to rent a car for an extended period, but don’t want to deal with the high rates from rental agencies. Renting your car out privately puts your car to good use and puts some extra cash in your wallet.

Before you rent out your car, however, make sure this is allowed under your insurance policy. You don’t want the person renting your car to get into an accident, only to find that it isn’t covered. In addition, check out the person who is renting your car before you give away the keys and ensure they are trustworthy and have a clean driving record.

Sell Your Car

Of course, if you want some quick cash from your car, you could always just sell it. This is a popular option for retirees who no longer need to own two cars in the household. If you can get by with one car, or if you just no longer need your car, selling it is a great way to bring in some money. You can either sell it to a dealer or try to sell it privately. You’ll get more if you sell it privately, but it also takes longer, and you need to investigate the buyer before you hand over the title. Either way, know the value of your vehicle before you sell it, so you can get a fair market value. Once you’re ready, check out a site like CarSoldForCash.com to get money for your car.

Donate Your Car

Finally, your last option is to donate your car. Donating it won’t put any money in your wallet, but it can get you a tax right-off at the end of the year. That way, when it comes time to do your taxes, you’ll either owe less money or get a larger refund. Consider your own tax situation, and the condition of your car, to decide if this option is right for you.

As you can see, there are plenty of ways to get money from your car. You just need to decide the best method for you and consider your own financial needs. There are so many options though, that you should have no trouble finding a way to turn your car into some extra income.

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