Cars. There are over 300 million of them on the road—well, off the road, and let me explain. Most of the cars in the U.S. are actively in use for only 2 hours per day. But since you’re still paying for your ride all 24 hours, here’s how to make some passive income while you’re not even driving it.
1. Rent your car to Uber and Lyft Drivers and earn $1,000 a month.
The gift of gab not your thing? Through Hyrecar, you loan your cars to those Uber and Lyft Drivers and earn some cash on your automobile, all without discussing the weather or fighting traffic. Hyrecar even provides their own insurance while your car is in use to protect your vehicle.
2. Leave your car at the airport and score up to $450 a month.
Flightcar’s mantra: Let airport arrivals borrow your car while you’re out on your own adventure, so you could reasonably make typically $15 per day when you loan your parked car. Not only will you save in long-term parking, their insurance protects your car in case of damage.
3. Rent your car with Turo and make $500 a month.
Talk about a raise. With Turo (previously Relay Rides), if your car is valued at $8,000 and you rent it out 20 days per month, you can make serious bank (cars older than this aren’t in high demand). Think of it as Airbnb, but for your well-maintained, 4-wheeled friends. Just coordinate use with interested borrowers, meet your guest, check their license, and send them on their next adventure. You can even get (and leave) reviews so you don’t end up with a creeper.
4. Make $800 a month when you loan your car with Getaround.
Based out of San Francisco, Berkeley, Chicago, Oakland, Portland, and Washington, D.C, Getaround.com is a peer-to-peer car-sharing app and local car rental service that lets you share your vehicle with locals. They even take sexy pictures of your rig and list it for you. You just pay a fee for first-time bookings to cover the cost of driving, record processing, a connect set-up fee, and a monthly subscription for GPS ability and capability to unlock the car with your phone.
5. Get your car on the silver screen with Movie Time Cars and make up to $5,000 a month.
6. Use Just Share It and make up to $900 a month for car rentals.
You list your car for free with Just Share It, and you’re in control when it comes to pricing when private renters come to you to borrow your car. Just set an hourly and daily base rate (about $30 a day). You keep 60%, and JustShareIt retains 40% to pay for service and transaction fees. They even track the numbers of hours renters use your ride so you can sit back, relax, and collect payments at the end of each month (payments are sent the following month).
7. Rent your classic car to wedding couples and make up to $1000 a month.
Is your car so old it owes Jesus a buck? There’s a need for that. Gigmasters rents cars out for events, from weddings to parades to proms. You can expect to net anywhere from $250 for a shorter day to up to $1000 for more extensive uses including transportation to unlimited destinations, photo shoots, and vehicle display.
8. Make $100 a month when you display Carvertise or Advercar car wraps.
Drive at least 30 minutes a day? Carveritse and Advercar are advertising companies paying drivers to place removable advertisements on their cars for 3 – 6 months. When you sign up, they’ll let you know if your location (and car) are a good fit for their advertisers.
It’s your turn: Did we miss anything? Sound off below or drop us a Tweet @KrazyCouponLady