There comes a time in most of our lives when we need a little extra money. Perhaps you’re trying to save up for a vacation or you just have some debts to pay. Having a little extra money in your bank account would go a long way and so you set out to find ways to do that. You look into part time jobs, you cut back on your expenses, or maybe you even start selling some things around your home.
If you’re the owner of a car, it could be the answer to your problems. There are several ways that you can turn your car into money and start reaching your financial goals a little sooner. Here are just three ways you can do this.
Use Your Car for a Job
One of the best things you can do is use your car for a job. There are plenty of places where you can get an extra job driving around, earning a little more income in your spare time. For example, there are probably restaurants in your area that could use some delivery drivers. Or, in some places Amazon is looking for people to deliver packages in their local area. All you need to do is driving something from Point A to Point B and you earn some extra money.
If you don’t want to drive things around (or if you don’t want your car smelling like food), consider driving people around. With apps like Lyft and Uber you can sign up to be a driver, and then drive people to their destinations. The great thing about working for one of these companies is that you get to choose your own hours. So if you have a busy or unpredictable schedule, you can choose which times you work, and earn money on your own terms. To learn more about what it’s like to work for a ride share company, you can check out this article.
Rent Out Your Car
Your next option is to let someone else drive your car. If you don’t need your car at all times you can bring in some extra income by letting someone else drive it. There are many instances where someone is in town for only a few weeks and doesn’t want to go through the hassle of buying a car. By letting someone else use your car you get to bring in extra money without really having to do anything.
If you’re going to go this route there are a few things you should keep in mind. First, you obviously won’t have your car for an extended period of time. If you need your car to get to work every day, this probably isn’t the right answer for you. On top of that, you have to worry about any damage someone else might cause to your car. Check into your insurance policy to see what it covers and consider running a background check on anyone who wants to borrow it. For more on renting out your car, try this guide.
Sell Your Car
Finally, your last option is to sell the car entirely. If you don’t use your car much it’s probably just taking up space. By selling it you get a quick cash influx, and don’t have to worry about things like upkeep, insurance, or parking fees.
To sell your car, you have a few options. First, you can take it to a local dealership. There are tons of used car dealers all over the country, so you should have no trouble finding several near you. If this option doesn’t suit you, you can sell the car privately. This option is a little more risky, but if you can find a good buyer, you may be able to get more than at a dealership.
The great thing about this option is that you can sell your car no matter what kind of shape it is in. Even banged up or broken down cars can get you a little money, so don’t worry if your car isn’t in the best shape. You can even search for “where to sell a totaled car” to find some places in your area willing to buy a completely wrecked car.
Put Your Car to Good Use
If you need some extra cash, and you have a car, you’re in luck. As you can see, there are plenty of options out there for turning this car into some extra cash. Think about how much money you need, how much free time you have, and how much you really need the car. The answers to these questions will help you to determine which route is best for you.