Many people drop money on vehicles never expecting to make it back. But that’s not always how things work in practice. In fact, these days, owning a car can actually be a way to earn a living.
So, what do you need to do?
Here are some ideas.
Drive For A Rideshare Company
The most obvious option (and one that millions of people try) is working for a rideshare company. Services like Uber and Lyft are always willing to take on new drivers, especially in under-served areas where they can’t always call a cab when they want.
How much you earn usually is proportional to how long you’re prepared to sit in the driver’s seat. Most drivers make significantly more than the minimum wage, which is why so many are willing to give it a go. However, your level of success is highly location-dependent. Ideally, you want to focus on under-served areas with as-yet unmet demand.
Rent Out Your Car
If you want to try something a little more passive, renting out your vehicle could also work. This option is ideal for people who want to use it to make money when not using it.
Of course, setups like these can be challenging to administer. You have to know when you want to use the car, and when your customers will use it. If there’s overlap, it might not be a practical solution.
Renting out your vehicle also comes with risks. It may bump up your insurance premiums significantly, and you may have to deal with customers who return vehicles to you damaged or scuffed.
With that said, profits can be substantial. That’s because it’s not a race to the bottom. Instead, you’re competing with the regular rental services which have massive overheads.
Offer A Courier Package Delivery Service
You could also try offering a courier package delivery service. These are handy for businesses looking to transport products from shops and depots the final mile.
Demand for these services is often through the roof. Logistical problems make small providers like you indispensable long-term. Companies need to know they can call on people like you to make deliveries and get stuff done.
Of course, you’ll need to set up a website and quote prices. But a single cross-country item could earn dozens of dollars. Fill a van with items at those sorts of prices and you’re looking at quite considerable profits, even for a modestly-sized business.
Refunds And Claims
You could also look into whether you’re owed PCP refunds or anything similar with a lawyer. Car dealerships and lenders often engage in unscrupulous activities (or have done in the past), meaning you could potentially earn compensation.
Refunds and claims can be worth quite a lot of money, often the same as the original vehicle. As such, aiming for damages is often a highly effective strategy and something you should try if you want to make a quick buck.
Help People Move
Another approach is to help people move. If you own a van, you can assist them whenever they need to move stuff from one location to another.
For example, let’s say a lot of people in your area need to move their furniture around or take it to the dump. If you have a van, you can charge them for that service (and often they will accept you charging quite a lot of money).
You could also help older people with boxes and moving around. Assisting them by packing, transporting and unpacking is often very lucrative and worth a lot of money.
Become A Mobile Notary
Becoming a mobile notary is a bit out of the box, but also something worth trying if you really want to put your vehicle to use.
Notary publics are useful for people who want to sign legal documents. These travelling individuals often have everything they need to make a document official. If you have these skills, a mobile service can put them to use.
The same essentially applies to any service you can provide. For example, you could travel to your customers’ property to provide detailing or repairs on their vehicles.
Deliver Food And Groceries
Again, thinking out of the box, you could also deliver people’s food and groceries. These services exploded during COVID-19, but you could take advantage of similar opportunities in the future. Supermarkets didn’t have the staff or personnel to provide these services, meaning that there’s considerable latent demand.
Delivering food and groceries is also straightforward. You simply collect the items your clients want and deliver them to their homes. If you can make the service speedy or even smiley, you can pick up more customers.
Offer Airport Shuttle Services
On the theme of convenience, you could use your vehicle to provide people with airport shuttle services. Margins for these services are usually quite high because travelers and tourists are willing to pay a premium, especially if you can guarantee to get them to the airport on time.
Of course, for this service to work, you need to live in a tourist area close to an airport. But this criteria applies to most of the majority of developed countries, so there are usually opportunities.
If you decide to offer an airport shuttle service, be sure to advertise on Craigslist. Savvy travellers know to look here for the best deals and highest-quality services (particularly as many want to avoid the big providers).
Teach Driving Lessons
Finally, you could use your vehicle to teach driving lessons. You’ll need to be a calm person to do this, but it can be a great way to earn a full-time living while making the most of your vehicle.
Furthermore, it’s a relatively straightforward industry to get into. You don’t always require mountains of experience. As long as you have a driving license and no driving-related convictions, you can usually begin offering lessons after a simple course.
If you get good at what you do, you can often earn business through word-of-mouth. Parents will recommend other parents send their teenagers to you.
