5 Effective Ways to Make Money from Your Vehicle
According to Forbes, 91.7% of US households will have at least one vehicle in 2022, and 22.1% of households will have three or more vehicles. In 2025, these figures may vary, but that is the latest data available on car ownership statistics for the US.
And with roughly 285 million vehicles in the country, spanning both private and commercial, it’s not an uncommon investment for people. It’s also not difficult to see why many people seek ways to use their vehicles to help me make some extra money.
It’s actually never been easier to make money from your vehicle. This piece is going to dive into some of the different ways you can generate an income simply by using what you already own.
Car Title Loans
If you’re not interested in taking on extra work or creating a side hustle using your vehicle, one of the easiest ways to make money from your car is via a car title loan. Car title loans are ideal when you need money fast, for example, to pay off a bill or to cover out-of-the-ordinary expenses such as appliance breakdowns or even vehicle repairs.
To obtain a car title loan, your car will be valued to assess its value, and you will be granted a loan based on this valuation. You will be able to retain ownership of your car and drive it while you repay what you owe; however, if you do not repay all of the money, you risk losing your vehicle. It’s important to understand that car title loans often come with high interest rates and should be used as a last resort.
Rideshare Apps
Rideshare apps, such as Lyft and Uber, are ideal for people who have spare time on their hands and nothing else to do with their vehicle. You need a good driving record, to be at least 21 years old, and be able to commit a decent amount of time to make any decent money.
Whether it’s weekends, evenings, morning rush hour, etc., finding time in your schedule to hit the road and drive for a ride-share can be the perfect way to help boost your bank balance. However, it’s worth noting that excessive driving can put wear and tear on your vehicle, and you may also need to take out rideshare insurance, which can’t increase costs for repairs and ensure coverage.
Delivery Services
If picking up people in your vehicle isn’t appealing to you, then why not try your hand at being a food delivery service driver?
This is driving for popular apps such as Uber Eats, Grubhub, and DoorDash. But it’s not just food that you can deliver. While food delivery services are the most popular option for delivery services of this kind, there are also options to work for services like Medsuma, which delivers prescriptions, or you can drive for Roadsy, which offers delivery of a variety of items for customers. Again, like working for Uber and picking up passengers, the more time you can dedicate to the road, the more time you can make..
Car Advertising
Car advertising is essentially wrapping your car with an advertisement for a certain company. If you don’t mind your car serving as a moving billboard, then you can sign up for services such as Carvertise or Rapidly to find out how much money you can make by covering your car. The exact amount you can earn depends on the size of your car, the add-ons you’re promoting, and your daily commute or time on the road. The more extensive your travels, the larger the coverage area, the higher the potential to make more money from this option.
Rent It Out
Don’t you use your car that often? Then why not sign up for services such as Get Around and Turo to earn money from your car while you’re not using it? If your vehicle is just sitting collecting dust in the garage or taking up space on your driveway, why not look into hiring it out to those who can use it?
It’s really important to check with your insurance company and your lender if you have an auto loan on your vehicle that this doesn’t go against their terms and conditions; however, if you own your car outright and you’re willing to take out additional insurance if applicable, you can look into this option if you’re comfortable allowing other people to drive your vehicle.
When renting out your car, it’s important to keep in mind that you’ll need to maintain your car’s condition and be prepared for potential wear and tear.
Alternatively, you can hire out your vehicle with your driver for special occasions. This is ideal if you own a high-end or luxury motor, but if it’s highly sought after by people, you can hire your services out for things like taking kids to their prom or driving people for bachelor or bachelorette parties, weddings, or anything else.
Amazon Flex
Amazon Flex drivers make deliveries for Amazon; however, unlike full-time Amazon trials, you work when you want to. Amazon advertises at an hourly rate of 18 to 25 Dollars; however, this will vary depending on the number of hours that you work, the type of deliveries you want to take, and any tips that you might receive for your work. This flexibility allows you to fit delivery work around your existing schedule, giving you control over your earning potential.
Amazon Flex is the perfect compromise if you’re looking for extra work around the holidays, on an honest, seasonal basis, or if you just want to pick it up whenever you need more money. You can fit delivery on days around your availability. Unlike other delivery options, Amazon Flex drivers are covered by Amazon’s commercial Auto insurance policy.
This means you don’t need to take out additional insurance to make the delivery, and you still get to keep your own personal insurance. Plus, Amazon offers its Amazon Flex drivers discounts for things like gas, tires, and standard maintenance, which can help offset the actual wear and tear on your vehicle.
