8 Ways To Make Money With Your Car

Oct 14, 2024

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Bankrate is always editorially independent. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation for how we make money . Our Bankrate promise is to ensure everything we publish is objective, accurate and trustworthy.

Table of contents

Table of contents

Your car makes it easy to get around without relying on public transportation. But it also offers another significant benefit — the ability to make some extra cash. Even better, there are ways to make money with your car even if you aren’t behind the wheel.

Consider leveraging these opportunities to boost your income. The funds you earn can be used to manage your car loan or meet financial goals, whether it’s paying off debt, saving for a rainy debt or taking a dream vacation.

These eight side hustles could help you bring in some extra cash, especially if you live in an urban area. Some options can be convenient, but before jumping in, weigh possible drawbacks and risks against your potential profits.

If you have a good driving record, are at least 21 years old and have some extra time on your hands, working for a rideshare app can be a good way to make money.

Uber and Lyft are the most common options. Weekends, nights and morning rush hour are the busiest times and often pay the most because of built-in surge pricing.

However, like any option for making money with your car, driving for a rideshare app can put a significant amount of wear and tear on your vehicle. You may also be required to take out rideshare insurance, which may mean a higher premium. And you may have more infrequent opportunities if you’re not in a dense urban area.

If you aren’t interested in driving for strangers, becoming a food delivery service driver might be a better opportunity. Like rideshare apps, you get notifications to pick up and then drop off food. Popular apps include DoorDash, Uber Eats and Grubhub.

While these may offer more frequent opportunities to get out and get paid — especially if you choose to work evenings and weekends — your income is far from guaranteed. It may be worthwhile to sign up for multiple services and pick orders based on distance and timing to maximize the amount you make while minimizing driving and waiting times.

You can also shop and deliver groceries. Instacart and Shipt are two well-respected options. DoorDash also offers grocery deliveries, and the Spark Driver platform lets you earn money by delivering groceries and other items for Walmart.

You will receive a shopping list through the app then deliver the food to the home of the person who ordered. Delivery drivers can make $10 to $25 an hour, depending on your area and level of orders.

If you don’t mind your car being a moving billboard, sign up with a car advertising company to cover your car with ads. You’ll get paid while you’re doing your regular driving.

The amount you earn depends on your daily commute and the size of your car — which translates to the amount of advertising space. Options include Carvertise, Nickelytics and Wrapify.

If you own a pickup truck or SUV, you can put it to work by transporting large items that don’t fit in other people’s cars. You can do this if you’re registered with a service like Uber. Another option is a company like TaskRabbit, which allows people to hire you for specific tasks. You’ll get paid for your physical labor and the actual transportation.

If your car is collecting dust in the garage, renting it out can be a great way to make money back on an asset that isn’t being used. Services include Turo, Getaround and HyreCar.

However, your lender may not allow you to rent your car out if you have an auto loan. If you own your car outright, you won’t face this obstacle, but you may need to pay more for insurance. Another big downside?

And while there are services that help facilitate renting your car out to others, there’s no guarantee that a renter will treat your vehicle with respect.

Amazon Flex drivers make deliveries for Amazon. Amazon advertises an hourly rate of between $18 to $25, although it can vary based on your tips, location and the time it takes to make each delivery.

You can arrange your delivery windows around your availability, which can be a good option if you’re busy with another job.

Unlike some other services, Amazon covers you under its commercial auto insurance policy when you maintain your own personal insurance. You can also qualify for discounts on gas, tires and other standard maintenance, which can help reduce the wear and tear caused by making deliveries.

HopSkipDrive is a transportation service for children. You can earn up to $50 per trip plus bonuses as a Care Driver and set your own work schedule. Even better, the mobile app allows you to schedule rides up to seven days in advance. To qualify as a Care Driver, you must be at least 23 years old with five years of caregiving experience. You must also have a good driving record and a four- to seven-passenger vehicle that is no more than 13 years old.

Similarly, you can sign up as a driver for elders through services like ElderCare.com. You will need to post your services and wait for someone to hire you, which can make it a less reliable source of income than other options on this list. Still, it can be a low-stress way to use your car to make extra money.

Although using your car to make money can benefit people who want to make their own schedules, it’s not always a golden opportunity. Before you sign up, consider some of the downsides.

There are a wide range of options available for car owners looking for help covering their car payments. You can take advantage of the gig economy and make money with your car.

To make the most of your driving time, try multiple options until you find those that are most worthwhile.

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