Five ways you can make extra money from your car

It shouldn’t come as a surprise that in today’s world, there’s no shortage of ways to make extra cash, particularly when it involves your car. Here are five ways your car could help you make a little extra coin.

Whether you’ve pondered it before, or it’s just a thought that’s recently crossed your mind, getting in on one of the many rideshare options available today is a great way to earn some extra dollars.

There is of course a range of benefits that those stuck in a standard 9 to 5 could only dream of. You’re your own boss! You can work your own hours! You get to meet new people from all walks of life!

But before you jump in the driver's seat and get ready to zip all over the city picking up passengers, do your research on the companies. Some offer better benefits than others and offer their drivers a few more extra dollars. However, there’s no shortage to choose from with Uber, DiDi and Ola, dominating the industry locally and overseas.

Aussie start-up Shebah is a women-only rideshare, which involves women driving other women (and their kiddies), and helping provide a safe space for those who feel uncomfortable driving or taking other rideshares or a taxi.

The setup for this one takes some time, as you need to get special rideshare insurance, apply for working with children checks, and depending on which state you live in, obtain a commercial driver’s licence to take passengers. However, if you put in the time, there are loads of benefits, with drivers keeping 85 per cent of the fare!

In this day and age, if you can get a stranger to take you into the city for a night out in their car, then you can get a stranger to deliver you a medium McChicken Meal and a six-pack of nuggets the following morning.

Along with the rideshare boom, app-based food delivery services like UberEats, DoorDash, and Menulog can also help you make some extra coin.

There’s also a heap of new app-based delivery services popping up all the time, so keep your eyes peeled for what’s in your local area. You will just have to exercise self-control as the smell of delicious food fills your nostrils and car interior on your delivery route.

If ridesharing isn’t your deal, or you’re too worried about accidentally hacking into someone else’s chips delivering their McChicken Meal, then there are plenty of other options available to you if you’re willing to get a bit creative.

You rent out the property, so why not consider renting out your car? If you’re sick of your car not getting used while you take public transport to work, or you’re heading overseas or away for business, this could be one way to get a few extra bucks.

Uber Carshare (formerly known as Car Next Door) might be the solution for you if you're out sunning yourself on a tropical beach or just at work while your poor car is just sitting there alone, collecting dust.

Now available in all capitals and major regional centres, Uber Carshare allows you to hire out your car, van, or ute to those in your neighbourhood who need to get from A to B.

There are no lock-in contracts and no cancellation fees if handing over your keys in person, a $19 per month fee if you go with an instant digital key, but there are some conditions - cars rented out to be manufactured no earlier than 2001 and have a power rating of less than 200 kilowatts. Once established you can earn a few hundred extra dollars if you’re happy for neighbours to use your wheels on the reg.

Uber say that the average annual income for casual sharing is $3,396, based on 6 months of data between Dec-2021 and May-2022, for cars across Australia that were available more than 60% of the time.

So you're heading out on the road for a few weeks and your car space is just sitting there serving no purpose besides collecting leaves. What if your car space could make you money while you were out on holiday spending it?

There are several sites where you can list your unused car spaces for others to rent including Parkhound, Gumtree and Parkey. Outdoor, undercover, garaged, street. You name it, you can rent it out. Most sites are free to list on too.

According to the online parking marketplace Parkhound, several of their members have utilised the site on a larger scale too. Venkata is a father of two who currently has 18 spaces listed on Parkhound. Since joining the site in 2017, he has earned nearly $20,000.

Without adding those extra kilometres to your car, there’s another way to earn some extra money. OpenAds, as well as app-based services like Wrappli, and CarQuids connect you to potential advertisers, and invite companies to put ads on your car for a fee.

While it’s free to become a driver, you will need to let them know about your driving habits, lifestyle and car, before they match you with an ad campaign. You’ll be paid for your service of being a billboard on wheels of course!

The downside, something like this only becomes lucrative if you’re driving a lot, as it’s paid based on the time you’re on the road.

Related: Five easy ways millennials can save for a new car

Related: World-first rideshare service in Finland that accepts only singing as payment

Related: Our top tips for hiring a car on your next trip