5 Min Read | Updated: November 30, 2023

Originally Published: April 1, 2022

7 Ways to Make Money With Your Car

Are you looking for ways to make extra cash? Learn how to make money with your car with ridesharing, delivering food, advertising, and more.

Make Money With Your Car

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At-A-Glance

If you have some extra time, you could make money with your car by delivering food, ridesharing, or advertising.

There are costs associated with making money with your car, but there could also be potential tax benefits.

Making money with your car will require research to ensure that you meet the necessary qualifications and your vehicle is compliant.


The money you put into your vehicle is a significant investment, from the amount you paid for it to the gas, insurance, and regular maintenance it takes to get you from point A to point B. So, why not use your car to your advantage and make it work for you? There are active ways to earn income using your car, like ridesharing and delivery services, and more passive options, like wrapping your vehicle in advertising, that can generate some side-hustle dollars.  If you’re looking for ways that your car can pay you back for all the money you put into it, this article is for you.

7 Ways to Make Money With Your Car

Most people are familiar with food delivery and ridesharing, but the ways you can make money with your car are only limited by your imagination and skills. What has life taught you that you can turn into a moneymaker? Let’s explore seven ways to boost your cash flow using your car.

 

1. Make Money With Your Car Delivering Food and Groceries

 

Food delivery services have gained more popularity in recent years. Neighborhood eateries almost always need delivery drivers, as well as third-party delivery companies for some of your favorite fast-food spots. You can also get paid to pick up and deliver orders for grocery items and essentials and may even receive a nice tip for your service. The amount of money you make will vary, depending on the company that you drive for. It may also depend on your availability, the frequency of the orders you complete, and customer satisfaction.  

 

2. Drive for a Ridesharing Company

 

Ridesharing can be another way to make money with your car. Just keep in mind that you’ll need to meet a rideshare company’s requirements before they’ll let you drive. Requirements differ depending on the rideshare company and, often, by location. Some commonly held rules include:

 

  • Meet the minimum age in your city
  • Have a valid driver's license
  • Have a clean driving record
  • Have car insurance (and in some cases, rideshare insurance)
  • Pass a background check
  • Own a car with four doors that meets safety standards

Some rideshare companies may require you to get a specific license depending on the state you reside in.

 

3. Rent Your Vehicle to Make Passive Income

 

If you don't use your car often, or if vacation awaits, you may want to consider renting it out to make some extra money. Several companies run online marketplaces where you can offer your car for rent. Customers choose the vehicle they want based on what’s available, with pick-up and drop-off at designated locations. Think of it like a homestay or vacation rental company for cars.

 

The option to rent your vehicle may not be available in every state, so be sure to do your research. Several ride-renting services operate only in certain major metropolitan areas, such as Portland, OR; Chicago, IL; Washington, D.C.; San Francisco, Oakland, and Berkely, CA; Boston, MA; and parts of northern New Jersey.

 

4. Advertise on Your Automobile

 

Some national companies will pay you to display ads on your car while you drive your daily route. You essentially turn your car into a mobile billboard for a select period. Some companies give drivers the final say on what ads they can put on their cars, while others may not. To qualify for car advertising, you usually have to drive regularly in high-traffic areas.

 

5. Use Your Car for Moving and Towing

 

If you have a car with a tow/trailer hitch, or a truck with significant size and space, consider going pro as a part-time mover. You can make money with companies that will pay you to perform various tasks, like helping someone move or tow their stuff from point A to point B.

 

6. Become a Mobile Services Provider

 

Combine the mobility of your car with your skills and interests to bring a service to your customers’ driveways. For example, if you love cars and have auto mechanic experience, your go-to side hustle could be repairing people’s cars wherever they are. If you don’t have mechanical skills, you can drive to people’s homes to wash their cars. Have a truck? Well, in that case, a truck and plow attachment could serve as a way to make some extra money cleaning driveways in the winter months.

 

This approach turns your car into a mobile operation center: Come up with your own business model, work on your schedule, and price your services accordingly.

 

7. Use Your Vehicle as a Shuttle Service

 

If you have a child-care background and an SUV, consider child pick-up services. Busy parents often need the help. Or, you could use that van sitting idle in the driveway as an airport shuttle service. If your vehicle has a ramp, consider researching how to become a medical transportation vehicle in your area.

Potential Costs of Making Money With Your Car

Every business comes with startup costs and overhead. For example, you might have to pay for permits or a special license, and you may need to pay more for car insurance if you drive more. And you’re certainly going to be hitting the gas station more often. But you might be able to offset some overhead costs with a branded gas station credit card with rewards, discounts, and deals, or a general-purpose rewards credit card that provides cash back or other rewards for eligible gas purchases at select gas stations.

Track Costs for Tax Purposes

It’s a good idea to keep accurate records to see how much your car-based side-hustle costs so you can deduct from your income on your tax return. You may be able to use the actual costs of operating your car, including:

 

  • Gas
  • Oil changes
  • New tires
  • Repairs
  • Car insurance
  • Tolls
  • Parking fees
  • Garage fees
  • License fees
  • Registration fees
  • Lease payments
  • Depreciation

But what can and cannot be deducted can be difficult to understand, so it’s best to consult a tax professional.


The Takeaway

Earning extra money using your car has real potential. The seven ways to make money with your car described here may be only the beginning. Consider setting aside a portion of your income for regular maintenance so that your car is always running smoothly. Remember, making money from your car can provide a good source of extra cash, but conduct careful research before deciding if it's right for you.


Tony Azzara

Tony Azzara is a business technology writer and researcher based in Queens, NY, whose work focuses primarily on financial services technology.

 

All Credit Intel content is written by freelance authors and commissioned and paid for by American Express. 

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The material made available for you on this website, Credit Intel, is for informational purposes only and intended for U.S. residents and is not intended to provide legal, tax or financial advice. If you have questions, please consult your own professional legal, tax and financial advisors.

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The material made available for you on this website, Credit Intel, is for informational purposes only and intended for U.S. residents and is not intended to provide legal, tax or financial advice. If you have questions, please consult your own professional legal, tax and financial advisors.