When you buy a car, you usually lose a lot of money. It is what people mean when they say that a “Car” is a liability. And that depreciation happens when you drive it off the dealer’s lot.
But imagine if there was a way for your car to generate income for you? And then imagine if your car could earn this money PASSIVELY?
Well, that is how you turn a liability into an asset. It is a great way to make up for the cost of ownership and even make some extra money.
Best 5 Side Hustles With Your Car
Today, I will share five ways to turn your car into an income-generating asset. And even better, I’ll give you a 2-part bonus at the end! Here’re the Best 5 Side Hustles With Your Car To Make Money:
#1 Ride Zum
Number one is called “Ride Zum.” The idea is that it will be like an “Uber” for both parents and children. With Ride Zum, a parent can pay another person to pick up their child.
Now, because you’re dealing with kids, not adults, the process is much more involved. In reality, you must go through a thorough background check, car check, vehicle inspection, and driving history.
They will find out every single thing about you. You also have to go through an interview. Also Read: 8 Simple Steps To Start A Small Business Right Now
I know what you're going to ask: "How much money can I make if I sign up for Ride Zum and drive a kid home from school?" The answer is that you get paid between $15 and $35 for every hour you work.
If you drive a child to and from school, you can make a good amount of money. It is also straightforward. You can also choose the rides you want based on how much they cost.
#2 Picking Up Electric Scooters
The second way to earn money by your car is to “Use Your Car To Pick Up Electric Scooters And Get Paid For Charging Them.”
If you’ve heard of “Birds or Lime Scooters,” you know that people ride them around like Ubers. They rent them quickly, ride them around, and then leave them in various locations. But every once in a while, they need to be charged.
After you sign up, you must look for scooters that aren’t charged at all or barely charged. You pick them up, take them to a charging station or charge them up at home, and then deposit them in specified locations.
You get paid between $5 and $20 per scooter. There’s an app that lets you know which scooters are charged, which ones aren’t, and which ones you need to charge. $5 to $25 per scooter isn’t too bad.
Also Read: How To Find A ‘Best’ Job In Your 20s & 30s?
If you do ten every day and multiply that by $20, you get $200 every day—a straightforward gig. If you have a van, that’s even better because you can fit much more in a van or truck than in a car.
#3 Helping People Move
Number three is “Helping People Move.” For this, it’s clear that you’ll need a lot more than a regular, everyday car. You might need a van or a truck to help people move from one place to another.
Also, if you want to be more entrepreneurial, you can post ads on “Craigslist,” get hired, do the work yourself, and make some extra money.
#4 Renting Out Your Car
Number four is “Renting Out Your Car.” Yes, you can rent your car to someone else, and you get paid each day that person has your vehicle.
“Turo” is the best App for doing this. Depending on how long they want the car, you can make anywhere from $40 to $100 per day when renting it out. But if your car is in high demand, you can make much more.
Think about this: If you rent your car for maybe 20 days out of the month, that’s 20 times $40, which is about $800 a month for doing nothing but renting your car.
No matter who you are or where you live, $800 goes a long way, especially if you already have a car. Most likely, $800 will be enough for your insurance and car payments.
So, after all that, you can still make money and get your car for free. I’ve heard of people buying many cars and then renting them all out. It gives them a lot of money and, in a way, makes it their full-time job.
A full-time job where all you do is pick up the car and give it to someone else, but you don’t do anything else.
#5 Deliver Packages Using Your Car
Number five is “Using Your Car To Deliver Packages.” There’s a program at “Amazon” called “Amazon Flex.” When you use Amazon Flex, it looks at the size of your car and tells you something like, “Here’s the package we’ll send you based on the size of your car.”
After you sign up on their App, they’ll run a background check to ensure you’re above board. When you have a pickup, you go to the warehouse, get in line, pick up the packages, and then take them to the address they give you.
Amazon is very well set up because, in reality, most of the packages they’ll send you will be in the same zip code. It means you’ll be going from house to house instead of from this town to that town, which would be a waste of time.
They do this by giving you a sector instead of random packages. You can make between $15 and $20 an hour. If you work 20 hours a week, that’s an extra $400 a week just from doing Amazon part-time on the side whenever you want.
And when you’re done, you’ll have some extra money you can invest or use to buy something you want. However, Amazon Flex is not always available. Check them out online to see if they’re in your area.
Make Money With Your Car
And those are the five ways your “Car” can make you money. But, as I said in the beginning, I have some other ideas for how you can make money with your car.
Here are some other ways to make money with your car:
#1 Working As A Taxi Driver
I have a couple of friends who drive for Uber weekly and make close to $1,500. But again, if you want to make that much money, it’s a full-time job.
#2 Deliver Food With Businesses
Bonus number two is to “Deliver Food with Grubhub, Uber Eats, DoorDash, or even Instacart.” You must go out, pick up the food or pick up someone’s groceries, and then deliver them to their home.
There are many ways you can make your car work for you. Each can help you make up for the cost of ownership, and you’ll even have some extra money to invest.
And the more side hustles you have, the more money you have to invest in your future. I put together a guide on how to “Invest” your first $1,000 that you earn from side hustles.