If you commute to work by train, bike or foot, your car is sitting around doing nothing most of the time. Double that if you have a second car that is old, unique or sporty, or perhaps a combination of the three. So how can you earn money from your car? Find out in the second of our two-part series.
Hire it out for weddings
If you have a luxurious, large or classic car, there are always people who want something comfortable and a bit different for their wedding. You could offer self-drive where the bride or groom drives the car themselves. But this involves you getting an insurance policy that covers any driver, which can be expensive. The other option is to drive the car yourself. Just dress smartly, drive smoothly and ensure the car is working perfectly. The last thing you want is a client breaking down on their wedding day! But if you have a luxury car you could be earning upwards of £250 a wedding. And of course, you get to see a happy couple enjoy their big day. Just advertise on a site such as Gumtree and wait for the bookings.
Rent your parking space
If you do drive to work and live near to a train station, there is a money-making opportunity just sitting outside your home: your parking space. Many people commute by train but still have to drive to the station and parking fees can be extortionate. In some Surrey station car parks the annual cost is more than £3000. Rent the space outside your house or on your driveway by advertising in local papers or using a specialist site such as YourParkingSpace or JustPark. You could earn between £40 and £400 per month.
Hire your car out for track days
If you have a fun sports car that’s frequently sitting around unused there is always the option of renting it out for track days. The logistics of transporting your car to the tracks, maintenance, insurance and potentially recovery can be fairly difficult. The best thing if you decide to do this is to get in touch with a specialist company such as Track Group. It might be interested in taking on your car for mid-week track days. Fees would be quite high. But its cars cost upwards of £795 a day to rent so you could expect a good percentage of that. The main thing to ask yourself is whether you’re happy to have your pride and joy thrashed around a race circuit by a stranger. If you are, it could be a good way to rationalise the expense of a second fun car.
Scrap it yourself
Lots of cars are abandoned or simply traded in for a few pounds when they are beyond fixing. But there are a couple of ways to earn money from a car that’s on its last legs. You could take the car to a scrap car merchant yourself. Even a non-running car will be weighed and given a value based on that. The second option works well if you’re handy with a spanner: strip the useful parts off the car and sell them separately. There’s always a market for second-hand spares, and with websites such as eBay it’s easier than ever to sell them. The engine may have seized in your car but the gearbox could still be worth £200. And the alloy wheels might go for up to £150. If you have the skills, the money could really start adding up.
Become an Uber driver
If you enjoy driving and want your car to earn money there’s always the option of taxi driving. With companies like Uber fast becoming the most popular forms of private hire, it’s a flexible way to make good money on the side. Your car has to be suitable and less than five years old. And you have to get a private hire licence and put your vehicle through a roadworthiness test – essentially a stricter MOT. But once these are done you can join a private hire firm. Uber claims the average driver can earn around £15 per hour after fees.
Mandy is an ex-mechanic, with 22 years’ experience in the motor industry. As an in-house motoring expert, Mandy is the go-to woman for any relevant questions that our customers have; both garages and drivers. From specific problems with your car to general maintenance, Mandy is a reliable source of information and advice. Her passion for motoring is a huge factor to her success and the huge wealth of knowledge that she has. She now uses her remarkable grasp of the industry to write regular content for our readers to help drivers understand their car better, avoid being ripped off by garages and save money on their motoring requirements.