Some people will tell you that owning a car won't get you very far. Yes, it might physically transport you from one area to another, but overall, it is seen as something that just makes you spend money.
It doesn't have to be this way though. There are plenty of ways that owning a car can give you cash in an emergency.
With some creativity, you could actually think of many ways to make some quick cash on the side for emergencies and other important situations. These are just six valid ways you could put your car to work and make some extra cash for your pocket.
1. Start Carpooling
Some apps and sites allow you to sign up and offer a lift. Whether you use UberPool, UberX, or UberXL for an even larger group of people, the process and premise are the same.
To offer a lift on either app, here is a basic list of steps you will have to follow:
- Make sure you meet Uber's basic requirements to drive with them;
- Fill out their application on the website;
- Download the app;
- Set your driving schedule;
- Start driving
If someone on the app then wants a lift, you will be sent a notification. Once this happens, you can choose whether you want to take it and you will get paid through direct deposit based on mileage and time.
The earning potential is somewhat high. It depends on how many passengers you are taking on your journey. The length of the trip does play a part too. If you're going for a short drive, then obviously you can’t expect much. But, if you're going on a longer journey, then you will receive a larger amount. It all depends on what you can do.
2. Rent Out Your Car
There are websites like Turo and Zipcar that let you rent out your car when you don't need it. Thankfully, you are in full control of who gets to use your car before they part with their money.
Amazingly, you can either personally hand the keys over or fit a smart box onto your car that can be accessed remotely. The choice is yours.
As far as earning goes, if you choose an app like Turo, it’ll go a little something like this:
- Post your vehicle on Turo;
- List as much detail as you can and some high-quality photos;
- Meet an interested renter at a predetermined location;
- Check their license, note your fuel and mileage, and hand off your keys;
- Meet that person when the renting period is over and check your vehicle;
- You will then be paid through ACH payments or Automated Clearing House.
With Turo, you can set your price for renting your vehicle – which has to be a minimum of $10 per day. They even have what they call a “carculator” to suggest an estimate.
3. Put Some Ads On Your Car
Putting advertisements on your vehicle can be a great way to earn a little extra cash. You can enter your details on some websites that allow companies to wrap your vehicle in advertisements and pay you weekly or monthly for the privilege. All you really have to do is meet some driving requirements – to make sure people actually see the advertisement, of course.
Websites like Wrapify or Carvertise are great examples. These sites will match you with companies in your area that want to add stickers to the sides and windows of your car. You are matched based on the company’s needs and how much you drive per day.
Carvertise or Wrapify will wrap your car for you and pay you a monthly stipend for the duration of the campaign, At the end of the campaign, the wraps are easily removed by Carvertise or Wrapify.
As long as you drive your car regularly, you can make a fair amount per month. Usually, people make around $150 to $600 when participating in an advertising campaign.
4. Start Delivering Groceries
Grocery delivery is now more profitable than ever – especially in these pandemic times. As long as you have a car, you can deliver to your heart's content.
There are a lot of sites out there but you do have to meet some requirements like getting a background check, being able to carry a certain weight, and so on. Just check whatever website you are using to see their requirements.
Other than that, nothing is stopping you from earning a pretty decent amount delivering groceries. This does depend on the reviews you receive though – so make sure to be on time and deliver with care.
5. Start Delivering For Restaurants
If you don't feel like delivering groceries, then food delivery might be the side hustle for you.
Depending on where you live, you are likely to find quite a lot of people out there who need this service, regardless of the time of day. This is what makes companies like Uber Eats and DoorDash so popular. You can get the food you want without leaving your home.
It's hard to gauge how much you can earn delivering for restaurants. With Uber Eats, you can expect to be paid around $8 - $12 an hour. And you also have to take care of expenses like gas, insurance, vehicle maintenance, and your registration yourself.
6. Grab A Title Loan For Emergencies
Although any one of these five options is helpful for a little extra money, the fact is they aren’t much help when you have an emergency. Many emergencies cannot – and will not – wait for you to have enough cash to deal with them. And if they catch you without a good emergency fund, that is even worse.
When that happens, you have another option available to you in Delaware. If you own a vehicle, you can get between $300 to $15,000 with car title loans in Delaware.
What Is A Title Loan?
Simply put, a title loan is a short-term loan that uses your lien-free title as collateral. You don’t have to worry about giving up your vehicle because we are using your title as collateral – not the vehicle itself. So as long as you pay the loan back on time, you are free to keep and use your vehicle as you wish. You could even use it to try out one of the other five options for some extra cash!
The great thing about title loans is you can use any vehicle you have available. So if you don’t happen to own a car but you do own a motorcycle or RV, you can use that title instead. Just make sure that whatever vehicle you do use, it is in your name and the title is free of prior loans or judgments.
Another benefit is how streamlined our process is for you to go through.
How To Get Title Loans In Delaware
When it comes to our loan process, we make sure to make it easy and convenient. We won’t let it go on for days at a time like other loans. Here is a step-by-step of our process:
- Go to our website and fill out the online form;
- Wait for one of our reps to get in touch once the form is submitted;
- Take your vehicle, driver's license, and lien-free title to one of our title loan locations in Delaware;
- A rep will take a look at your documents and inspect your vehicle. It'll only take a few moments for them to determine how much you qualify for;
- Once you're approved, you'll receive your money on the same day.
The entire process can be finished in a mere 30 minutes, which means you can go on to handling your emergency.
If you require extra cash, any one of these six options can help you grow a nice financial cushion for yourself.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
