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7 Ways to Make Money with Your Car
One of the many appealing things about working from home is that there’s no commute. You may actually find yourself staying indoors for days at a time. Though giving your car a rest while you work is great, you could actually make money with your car!
Car sharing is a growing business model that allows renting cars on a short-term basis. Though some rental car companies have introduced their own car sharing divisions, peer-to-peer car sharing has also become a popular option.
And that means it’s an option for you to make money with your car while you work, or anytime that your car is sitting idle.
So why would someone want to rent your car?
– Rentals for short periods of time, even by the hour
– Usage of a personal vehicle as-needed without the cost of owning
– Access to cars across a wider area
– Ease of arranging pick-up and return
Make Money Sharing Your Car
Here are a few ways to make money with your car with car sharing. All companies allow you to list your car, set your rate, and they all screen drivers.
Each company also provides insurance coverage to protect all parties (see more about insurance concerns below) and roadside assistance for the renters. Services may not be available in all areas.
1. Turo (formerly RelayRides) offers cars across the country except New York (and the Canadian provinces of Ontario, Quebec, and Alberta). They also offer three ways to make money with your car – rent from home, delivery, and park and earn
2. Getaround guarantees that you will earn $1,000 in 3 months.
3. JustShareIt offers an in-vehicle technology that allows for keyless entry, GPS monitoring, and more for extra protection.
Though each company offers extensive insurance (RelayRides and Getaround insure each rental for $1 million) you still want to make sure you cover all your bases before offering your car for rent. Check out this article from The New York Times about car sharing and risks to your personal insurance coverage.
Make Money Driving Your Car
Even though these options don’t let you work from home since you will be acting as a driver, I thought I should include them here just the same since we’re talking about how to make money with your car.
You must have a smartphone because you will be notified of ride requests via the company app.
4. Uber is available globally and is continually expanding.
5. Lyft is available in most states across major metropolitan areas.
6. Sidecar currently has availability in San Francisco, San Diego, Chicago, Washington, DC and Boston. They claim that you will make up to $35/hour.
7. Amazon Flex lets you earn money delivering packages to Amazon customers. The program is in several cities and is still growing. Amazon states you can make $18-$25 per hour.
Before you get started as a driver make sure you understand the safety measures that each company offers and the risks to your personal insurance coverage. And research further to determine if the net pay will be worth it for you.
Do you make money with your car? Please share your experiences in comments.