How to Make Money with Your Car
On average, Canadians have a net savings of under $10,000 per year. This might seem like a lot, but the reality is, many people don’t manage to save at all, which can make emergencies harrowing.
Even if you do have a solid savings balance, there are always ways to generate more money. And no one’s ever going to say “no” to more financial security!
If you need fast cash and own a car, why not put it to good use? Here are some ways you can get some extra money in your pocket with your vehicle.
Be a Rideshare Driver
Do you enjoy long hours on the road? Then you might be suited for ridesharing.
There are a few apps out there, such as Uber and Lyft. To up your chances of customers, you should sign up for more than one platform.
The downside to this job is that you’ll put extra wear and tear on your vehicle. Also, to make it worth your time, you’ll have to work during weekends and rush hour, when people need to get home but don’t drive themselves.
If you live in a large city like Toronto, you’ll find plenty of customers. But if you live in a less populated place, you might struggle to find some. You’ll have to either expand your driving distance or try another idea on this list.
Drive Kids Around
This idea is similar to the last one, which means you’ll still put extra wear and tear on your car. However, the hours probably won’t be as sporadic, as parents will mostly need someone to drive their kids during their regular working hours.
Not only do kids have to go to school, but they also need to get to and from their extracurricular activities, then home. Considering that 43% of Canadian children have both parents in full-time employment, it won’t be difficult to find grateful people who want you to drive their kids to their various activities. And they’ll pay good money too!
Deliver Groceries or Food
In addition to rideshare apps, there are also several delivery service apps available. If you’d rather not talk to passengers but still enjoy driving, as well as shopping, then this can be a viable alternative.
This is an ideal side hustle for those with a flexible schedule, as most apps will only let you sign up for block “shifts.” However, you’ll still have some freedom, as it’s still up to you how often you want to work and on what days.
Like with the rideshare apps, it’ll be more worth your time if you’re available for peak hours. This is usually nights, especially on weekends.
Help People Move Goods
This is another great idea if you like to drive but don’t like social situations. There are many people who don’t have time or the proper vehicle to transport that sweet deal they just got on a table or chair. This is where you can make big money, even more so if you have a larger car.
In any case, you can make quick money by picking up and delivering goods. There’s lots of flexibility here; for example, you can pick up an elderly person’s prescriptions or help a disabled person move their belongings to a new house.
You can pick when you want to work, as well as which jobs are worth it to you.
Put Ads on Your Car
Don’t care too much about how your vehicle looks? Then companies will pay you to put their ads on there.
They’ll take care of putting a temporary wrap on your car that shows off their ads. What’s great is, these wraps won’t damage your vehicle either. When you’re done with this side hustle, it’ll come right off, and everything will look as good as new. The wraps might even preserve your cars paint and leave it with its original shine.
You don’t always have to be actively driving either. Simply parking your car counts, as people who pass by will see the ads too.
A bonus of putting ads on your car is if you personally use and like the brands, you’re being a faithful customer by promoting them! You’ll help keep their doors open so you can keep using their products and services.
Rent Out Your Car
If you don’t like driving and/or don’t do it often, you can rent your car out to people who need a vehicle but don’t want to buy one. It’s like Airbnb, but for vehicles! This is a fantastic source of extra income, especially if you’re going on vacation and won’t need your car.
Are you concerned about things like damages and insurance? Well, third-party companies that connect car owners with drivers will take care of that. They’ll have insurance and roadside assistance, and they’ll also check out the renters to ensure they’ll take care of your vehicle.
Get a Car Title Loan
This technically isn’t making money, but it can certainly pave the way to more income. If you own a car under nine years old, then you can borrow up to $25,000 with a car title loan, depending on its value.
This is an excellent alternative to traditional loans since you can get approval, even if you have no or bad credit. In fact you can even get a title loan if you are currently in bankruptcy or in a consumer’s proposal.The lender may not even require you to be employed, so there’s more flexibility. All you have to do is use your car as collateral.
Use Your Car for Fast Cash
When you need fast cash, there are several ideas you can try. From driving on rideshare apps to renting your vehicle out, making money will be easy with these options.
And if you need some capital before embarking on these side jobs, you can always apply for a car title loan. Use your car as a stepping stone to better things!
Get in touch with us today if you have any questions about car title loans. Otherwise, complete an application on our site and we’ll give you same-day approval and receipt of cash!