3 Ways to Make Some Extra Money with Your Car

3 Ways to Make Some Extra Money with Your Car

You know how to find a bargain and there aren't many things that you'll pay the full retail price for. You're thrifty and you're proud of it. After all, knowing how to stretch your money truly is a skill really.

But if you'd like to add some extra cash to your monthly income, here are a few jobs that offer enough flexibility to choose your own hours, and you don't need more than a car to get started.

Deliver Food

App-based delivery services have created a niche market where demand is steadily on the rise. And as demand increases, so do orders, which creates an overall need for more drivers to make deliveries. There are a wide variety of services available, so shop around to compare the various pay rates, perks and other benefits to see which company can best suit your lifestyle. Most companies let you set your own hours and pay promptly, offering you even more flexibility for earning extra income.

Some of the most popular options are UberEats, Doordash, Grubhub and Postmates. Even more established brands like Yelp and Amazon have jumped on the bandwagon with Yelp, Eat24 and Amazon Restaurants, respectively.

One caveat of this gig is you will definitely need to make sure that you have a reliable vehicle to drive. After all, a customer won't want their pho to arrive cold because you had car trouble. If it's time to get a new ride, opt for something that's as fun to drive as it is affordable, like a Chevy Camaro which starts at under $26,000, a low price for a sports car of its class. The Camaro is also known for its exceptional handling, which will make your rides much smoother. After all, you're going to spend many hours a week driving around town. Why not enjoy the ride?

Rent Your Car

Don't let your car just sit in your garage when you aren't using it; instead, it can earn extra money for you. Services like Getaround and Turo offer a great opportunity to make some extra money by renting your car directly to travelers and locals in need of a rental car. Known as peer-to-peer car sharing, this service is a more economical way to rent a car, while offering car owners a way to make use of their car when they do not need to use it themselves.

Getaround notes that their participating car owners make an average of $6,000 per year. They pay monthly and also include a generous $1,000,000 insurance policy as well as roadside assistance, to ensure your vehicle is taken care of in the event of an accident. Turo offers similar benefits and does not charge a listing fee or buy-in. They also thoroughly screen renters to ensure a great rental experience for you.

Rideshare

If you love to drive, but would rather not deal with food delivery, consider driving for a rideshare company like Uber or Lyft. You can make your own schedule to suit your availability and vary it as often as you need to in order to accommodate your needs and obligations. You can also tailor your hours to suit your preferences of passengers. For instance, you may want to skip the late night hours if you find drunk bar goers to be obnoxious. Instead, you might focus on early morning hours, where you'll be more likely to shuttle business travelers to and from the airport or office.

Senior citizens have become an emerging market in the rideshare industry. Lift Hero is a rideshare company that is targeted at senior citizens, and they are a great option to drive for if you love helping the elderly.

Whether you want to give strangers a ride, deliver meals or rent your car while you relax at home, there are plenty of viable options to help you make some extra money to supplement your income.

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