Last Updated on Mar 23, 2020 by James W
Ever since I have been able to drive I have had an interest in making money from my cars, and I have steadily built up ways to use cars, old and new, to do so. If you own a car, you have money tied up in it, why not use it to generate some extra cash? Here are a few of the ways I have used my cars to help with my finances over the years.
My first cars were old, run down motors and their net worth was generally very low. When it came time to change my car I was never happy with the way that I seemed to lose so much money on my old cars, and decided to take things into my own hands; literally. I started stripping down my old cars, and selling the parts piecemeal to anybody who had a need, and even though I was an accomplished mechanic, anybody with a set of tools can learn how to strip down an old car. The value of the parts far surpassed the car as a whole, and with a little advertising I would have people calling me for the parts they needed. This was a great way to make some money as I was already use to taking cars apart, and the left overs of the car were sold for scrap.
You have probably seen cars driving around with the name of one company or other emblazoned over its paintwork and no matter how bad this may be for street cred, it is an excellent way for your car to make money while you do nothing. There are professional companies who use cars to market their clients and you can connect with these marketing companies on the internet. If you want your motoring costs covered, then this is a sure fire way to do so.
Whenever I have a shortage of available cash I turn my private car into a workhorse, and carry out (pardon the pun) some courier work. There are online companies where you can bid against others for delivery work, which is an ideal scenario if you are going on a trip anyway. You will need to have the correct insurance, but one job will generally cover that extra cost, and this is a great way to cover fuel costs for any journeys you plan
Car Title Loans
I have discovered a fantastic way to finance any little extras I want from life, like a holiday or a new television, without having to save up to pay for them. Saving takes time, and I am not as committed to putting money aside as I am to paying money I owe, so finding that LoanCall.com offers loans against your car title has enabled me to use the money tied up in my car to buy what I want. Being a short term loan, it has to be paid off quickly, but I simply use the money I would have had to save to do so.
Privately Rent Your Car
Did you know you could do this? There are lots of people who want to rent a car for a journey, but who do not want to go to a rental company and pay their expensive rates, and these people can now register with companies on the net (as you have to) to find a suitable vehicle. The best companies will vet all hirers and renters, and make sure that all insurances are in place by both parties before any rental can take place. You need to have a modern, maintained vehicle to register, and the better your car the more money you make. This really is a winner if you have a second car that spends most of its life parked in front of your home.
I have spent my whole life raising money from cars, be it by stripping them down, refurbishing and selling them, or using them for finance, and I now look at my cars as an investment that earns me money rather than costing me some. Perhaps you should look at your vehicle in the same way, and hopefully, these ideas will help.