Purchasing a vehicle is a pretty luxurious option considering the price of cars nowadays. But it’s all about the grind, as what many millennials would like to say, and if you’re willing to do some extra hours, the vehicle you purchase might be able to pay for itself or even net you extra cash on the side.
Profiting with your car requires a lot of foresight, but we’re here to help you out. First, you should consider investing in electric vehicles.
Electric Vehicles (EV)
Here’s a tip, if you want to gain more profits, you might want to invest in electric vehicles (EV). Gasoline is becoming a luxury nowadays, with average prices reaching almost four dollars per liter this year compared to the two dollars per liter last year. You can’t be spending this much on gasoline if you want to profit from your vehicle. This is why you need to switch to electricity.
A recent study has found that running a gasoline-powered vehicle in one year would cost people an average of $1,117 while operating with an electric-powered vehicle would only cost them $485. That’s a significant difference of about $600. You can invest that amount of savings and make it grow in the coming years. This is why you should invest in an EV if you want to make extra profit with your vehicle.
Now that’s out of the way, let’s talk about the various ways you can earn extra money with your car.
This is one of the most obvious ways you can earn money, but one that you might have easily forgotten. Ridesharing is the simplest way to make extra money with your car, but it does require a couple of things, such as a good driving record and a background check. You also need to keep track of your expenses, including gas and maintenance.
There is also another thing that ride sharers have to maintain: their reputation. Many ride-sharing apps now offer a way to review their drivers, and having a low review score can mean the end of your ride-sharing career. So that’s another thing you need to keep track of when getting into ride-sharing.
The next thing you can do is to deliver all the things. We’re talking about food, groceries, clothes, and even toys and hobbies. This is one of the most required services in e-commerce, and it’s a simple enough job that anyone can do it.
Amazon Flex is one of the platforms that can offer you the opportunity to earn extra money by delivering to customers. It’s estimated that Amazon freelance couriers have the chance to earn $31 per hour, making it an attractive option for those who want to earn extra cash on the side. However, Amazon does have its standards, and they’ll have to screen you beforehand. But once you pass, then you can start earning with your car.
This is a more niche option, but it has a good market. Almost every household in the US has a pet. Americans often move about eleven times in their lifetime. During these moves, households who have pets require a specialized shared pet transportation service. That’s where you and your vehicle come in. It’s a profitable side-gig, and it’ll help you interact with such adorable pets.
Doing this kind of service works fairly well if you have a lot of free time in your hands. It’s a good way to see various states as well if you’re into that. But the best part about this side-gig is that you can interact with people’s lovable pets.
You might need a couple of improvements in your car for you to start a gig like this. You need extra space on the back, and you also need to learn the art of disinfecting your vehicle. But that’s all the preparation you need to get started.
Car Wrap Advertising
Marketing is one of the biggest industries in the US, and this particular sector is using pretty much everything to get their clients’ brand out into the wild. Yes, this includes people’s personal cars.
Advertising has reached new heights this year, and many Americans are now lending out their cars to various advertising companies. These companies then redesign these cars to fit their client’s standards. You are then paid by driving a required amount of miles per day.
Drivers in doing this gig can earn on average $100 per month, but this depends largely on the company you work with. Some might pay on a driven-miles basis, while others might pay you on an hourly basis. If you’re someone who has to drive a long way into your work, this side-gig might help pay for your gas or electric bills.
So these are the different ways you can earn money with your car. They can be side-gigs, like something you can do after work, or they can be your full-time job. For example, a combination of car wrap advertising and ride-sharing can be a profitable venture. So don’t be afraid to mix and match some of these options into your career.