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Some people see cars as too much of a financial burden. They cost money to buy, and they require a lot of money to run and maintain. This can put some people off car ownership, but did you realise that your car can also be a source of cash?
When you own a car, you’re in possession of a money-generating resource. As such, if you’re ever in a position where you need some extra money, then you can turn to your vehicle for some assistance. How? Well, check out these genius ideas for more information:
Become a delivery driver
Nowadays, it’s easy to register as a part-time delivery driver for all sorts of companies. You can go down the traditional route and be a driver for a courier service, or you could enter the more modern game of instant food deliveries. Companies are always looking for new drivers to help them take on more work. It doesn’t need to be a permanent job – you can do a few deliveries a few times per week, and get some extra cash to use as you please!
Advertise with your car
A slightly less common idea is to use your car as a mobile advertising board for businesses. You’ve probably seen company cars with logos and phone numbers plastered all over them. Well, business owners are looking for other people to put this sort of thing on their vehicles as well. The benefit for them is increased exposure as you promote their company whenever you drive around. The benefit for you is that you get paid to do this, and you really don’t need to adjust your daily routine at all. Sure, there’s the slight downside of having decals plastered on your car, but you can remove them whenever you want. There are sites online where you can register and get paid to advertise on your car right away. It’s a brilliant idea that requires zero effort on your behalf.
Use it to get a secured loan
Lastly, you can take advantage of the equity in your car by using it as security against a loan. If you need a large influx of cash to pay for something important, then a loan is often the best option. There are things like easy logbook loans or vehicle equity release that basically use your car as collateral against the loan you receive. If you don’t own a car, then you miss out on opportunities like this to get some vital funds. It can be really important if you have a huge payment to make that came out of the blue – like medical bills or a massive home repair. What’s more, it’s another example of how you can use your car to gain access to some extra funds.
Start A Taxi Cab Service
You’d be surprised at just how much money a single taxi cab can make in a day, especially if you’re working independently and therefore get to keep every penny of your profits. Starting your own taxi cab service might just be the perfect idea to use your car to get more money, as it’s fairly easy to get a license and find your first customers! You can choose your own working hours, and even influence the type of clientele you serve. For example, having a high spec car will let you set your prices higher and appeal to a luxury market. You can even pick up groups and benefit from a larger net profit if you have a bigger vehicle like a people carrier. Just make sure you set a few ground rules to avoid getting into tricky situations – people may try to book your taxi cab to move items of their house, when in reality they need to find a skip loader instead!
As you can see, your car is far more valuable than you possibly gave it credit for. Yes, you have a big financial commitment when you buy a vehicle. However, as these ideas show, you can use your asset to your advantage. If you’re smart, you can get lots of extra money just by having a car.
