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3 Ways to Get Your Car to Pay for Itself

3 Ways to Get Your Car to Pay for ItselfFor most people, a car is a necessity. If you live in a city with great public transportation or in an environment that allows you to walk or bike, you might find yourself sans a motor vehicle. For the rest of us, however, a car is usually our only means of transportation.

Unfortunately, necessity or not, the cost of your car is likely a significant amount. Between the car itself, to all of its upkeep, and gas, the money spent on your vehicle is probably a large portion of your budget. If the cost of your car seems like too much or is simply driving you nuts, consider trying one of these three ways to get your car to pay for itself.

1. Become an Uber or Lyft Driver

Probably one of the most widely utilized ways to earn money via your car is by becoming a Lyft or Uber driver. Ridesharing services have become vastly popular since their emergence, which means you’ll no doubt do your fair share of driving.

Requirements to become a driver are usually fairly simple, granted you have a valid driver’s license, insurance and a car that meets a few standards. For the most part, drivers tend to make between $15 and $20 per hour. This can definitely add up. Moreover, ridehsare driving is usually flexible to fit your schedule since you can turn it off and on whenever you want.

2. Become a Driving Advertisement

You’ve probably seen someone driving around with advertisement decals and wraps all over their vehicle, what you might not have realized is that that driver is earning money by doing so.

Find a local business, whether that’s a restaurant, retail store or even a doctor that would be willing to use advertising decals. They’ll likely pay for the decals and car application, then all you have to do is drive around.

In some cases it might be a one-time gig and in others, you might be able to set up a monthly agreement. Either way, you’re bound to make a fair amount of income by using your car as a venue for ads.

3. Rent Out Your Car

If you don’t mind other people driving your car, then one surefire option to earn money would be to rent it out. Companies like RelayRides and FlightCar let you turn your vehicle into a rental.

You simply advertise your car on their marketplace and then, pre-approved travelers are able to choose your car for rent. The average rental period is usually between three and five days and the average renter can make around $500 extra each month.

A car is a luxury and one purchase that’s simply going to cost you money as long as you have it. Nonetheless, your vehicle shouldn’t take up half your budget. Keep your car from eating up too much of your main income and try out one of these easy ways to earn extra cash and get your car to pay for itself.

 

What are some businesses in your area that might need advertising? Would you rent out your car? How else could you get your car to pay for itself?

 

Photo courtesy of: Kent Kanouse

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Kayla is a mid-20s single girl living in the Midwest, USA. She is focused on paying off her consumer and student loans, while simplifying her life and closet. You can join her on her journey at ShoeaholicNoMore or follow her on Twitter.

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