Let’s face it times are hard at the moment! We are coming out of a double dip recession, some would argue a depression, economic growth is slower than it has been since the Second World War and we are all feeling the pinch. Many of us are looking for ways to diversify our income and get a few quick extra in the bank each month. One way we can do this is by making use of our cars. So here are some top tips on things we can do to make money with our car:
1. Deliver leaflets or the Yellow Pages
While at University my girlfriend had a car. We wanted extra money and responded to an ad in a newspaper. We went and picked up hundreds of Yellow Pages. Then we went and delivered them in our local area. We didn’t make a fortune. But we made money that we would not have otherwise. It was easy and we could do it whenever we wanted to. There are loads of opportunities of this kind if you keep your eyes open.
2. Become a courier
It is possible to become a casual Courier. There are websites like stuff2send.com which enable you to register and state where you will be travelling to. If you make regular journeys you can get email alerts when items that need delivering are listed. This is a great way to make money out of the trips you are doing anyway.
3. Sell advertising on your car
If you don’t mind your car being plastered with adverts you can make up to around 2,500 a year. There are many services offering the opportunity for your car to represent different companies. You will often be tied in to a contract and there may be a minimum mileage to be covered but this can be an excellent opportunity to cover the car expenses. Remember the extra income will have to be declared to each HMRC or the IRS.
4. Become a taxi driver.
There are taxi firms that will enable you to use your own car, on a self-employed basis, part-time or full-time, as a taxi. This can be particularly good if you’re doing airport runs and the longer trips. Make sure that you have all the correct insurance and that you declare income. This can be an awesome way to supplement your income.
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So there you have it four extra ways to make money from your car. Depending on the size of your vehicle it may be possible to do some object moving (fridges, freezers etc.). Of course, you could always do a car boot sale too.
Whatever you choose it is important that you are professional and ensure that the money you spend doing the activity is factored into your income tax return. Keep your accounts and find ways to make it more profitable as you become more experienced.
Has anyone else got any great ideas to make money from their car?