For many of us, a car is something that spends much of its life sitting unused, gradually losing value as it accumulates dust and possibly dents. But why not get it to work for a living and make money? There are a variety of ways your car can earn its keep and frequently it’s just by going about your daily business.
The sharing economy is big business and growing. According to accountancy firm PwC, it’ll swell from £500m a year to £9bn by 2025. And that’s all down to people like you and I making the most of things we already own. Here are five ways you can make your car earn rather than burn money.
Share your commute
Car sharing is becoming increasingly popular among hard-pressed commuters. The website Liftshare claims to be the biggest sharing economy website out there. How much you can make depends on where you live in the country and how many people you take in your car. Take a car full of people into London every day and you could easily cover the cost of your commuting over the year. Of course it requires a degree of organisation; to ensure your remain on the right side of the tax people, you should keep a profit and loss account. And if you make a profit, you’ll have to declare it for tax. You should also declare it to your insurer. The upside is you’ll have people to complain about the traffic with.
Rent your car out
Registering your motor with a venture such as easyCar Club enables others to use your car when you don’t need it. According to easyCar, owners can make up to £3000 a year. It also claims to vet renters thoroughly for owners’ peace of mind. According to easyCar around two thirds of its rentals away from airports are people using its service to borrow cars from others.
Become a delivery driver
If you do a regular commute, your journey may be of interest to a courier company. You might have to go a bit out of your way. But working for a company such as Anyvan.com will help pay for your fuel. As well as you earning some money, the courier company will probably be able to charge its client less than if it has to send its own vehicle and it takes a car off the road. It really could be a win-win-win.
Make money by turning your car into a TV star
Think how frequently you see cars on TV shows. More often than not, they’re provided by agencies who have people like you and I on their books. Of course if you run something popular like a 2013 Nissan Qashqai, you’re unlikely to get many takers. But if you’ve got a classic or unusual car, you never know how much it could make. According to agencies we spoke to, you should be able to earn somewhere between £150 and £600 a day, depending on the car. A couple of things to be aware of: make sure the agency insures your car and pick a reputable agency. That means one that doesn’t charge to have you on its books. Its money should come from the TV and film companies, not the people whose cars it’s using.
Turn your car into a billboard
If you don’t mind people staring at you, why not let other companies advertise on your vehicle? Thanks to the magic of vinyl wrapping, its straightforward for companies to plaster their logos over cars without it being a permanent thing. To make it worthwhile for companies, you need to cover at least 1500 miles a month. Company Comm-motion.com claims you can earn £220 a month, simply by doing your everyday driving. The downside of course is that by its very nature, any advertising is going to make your muted motor appear as conspicuous as Coco the clown’s comedy car.
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.