What to do with an old car? It’s a question people wrestle with every day. Sure it’s great when your car is finally paid off. But once it is, it doesn’t really do much except sit in the driveway and cost you an insurance payment every month. If you’d like to put it to work generating some income, what are the options? Is it delusional to think there’s any way to squeeze a few ducats out of it? Actually, it’s not such a wild idea, and in this post we’ll provide you with 10 ways that you can do just that.
What to do With an Old Car That Will Generate Income
Old cars excel at generating insurance bills, tax bills and maintenance bills. What they’re not often thought of as being good at is generating income. But there are things you can do to turn your old car into an income-generating member of your household, and here are the 10 best.
1) Rent your car out to rideshare drivers – hyrecar is a service connects people who want to make money renting out their car with Uber or Lyft drivers in need of a vehicle. As the Uber service expands the demand for cars is growing with it. If you are serious about wanting to make money from your old car there’s really no better, easier way. The best part about renting out your car through hyrecar is that you can make $1000 or more every month by doing virtually nothing. You can learn more about rent your car out here.
2) Teach People to Drive – Use your older car to teach people how to drive. You’d in essence be a one car driving school but there’s a real market for quality driving instruction. Mind you, you’ll need nerves of steel to deal with some of the folks that you’ll be teaching, but as long as the seat belts and airbags are in good working order you should be okay.
3) Set Up an Airport Service – If it’s a long way to the nearest airport you can get word out around your area that you’ll take people to the airport for a fee. Find out what a taxi would cost and charge the same or slightly less. Once people get to know and trust you, you may be able to develop a steady stream of customers.
4) Deliver Pizza – Even if you have a day job you can use your car in the evenings to make extra money delivering pizzas. Pizza parlors are always looking for reliable delivery people and while the salary they’ll pay you won’t be great the tips can be pretty good. It doesn’t have to be pizza either; it can be any kind of food that people typically order out for.
5) Become a Mobile Billboard – Lots of companies will pay people to put advertising decals on their car and drive around. Some companies will pay by the month while others will pay in a single lump sum for a preset period of time. Visibility being paramount, you’ll need to do a lot of driving to keep the sponsoring company happy, but it’s not a bad deal for those wondering what to do with an old car. Use google to find a company near you that will pay you to advertise on your car.
6) Deliver Groceries – There are plenty of large supermarkets who could use people to deliver groceries to their customers. Some of them pay pretty well if you prove yourself reliable. The thing about this type of work is just that; the work. Delivering groceries all day is a lot of physical work you may or may not be up for.
7) Take People to Doctor’s Appointments – A lot of elderly people in particular can have a hard time getting to important doctor’s appointments. Often they don’t or can’t drive and waiting for a social services van to pick them up can be a tedious and embarrassing exercise. Many would feel much more comfortable being transported back and forth to the doctor in a more normal way and will pay for the service.
8) Man with a Van – If you have a van or a wagon consider using it to help people move whatever it might be they need to move. While this practice isn’t as popular in the States as it is in some other countries, it is nonetheless a way you can earn some extra money from your vehicle. Even if you have a regular 9-5 you can still make yourself available on the weekend.
9) Donate Your Car to Charity – If you’ve run out of ideas about what to do with an old car you may be able to donate it to charity and benefit from a decent size tax deduction. Obviously once you’ve taken this step there’s no going back so you need to think it through. Also, if you’re not careful to file all the right paperwork or chose a charity that the government doesn’t recognize you may end up giving your car away for nothing.
10) Sell It – If your relationship with your old car has truly reached the end of the road your best bet may be to sell it and pocket what you can. If you choose this route you’ll likely get more from handling the sale yourself than consigning it to a used car lot. If you do handle the sale yourself it behooves you to be patient and hold out for the best offer. If you’re in the U.S, try using Craigslist.com to sell your car.
All of the above are proven methods for making money from an old car. All of them except ‘donate to charity’, ‘sell outright’ and ‘rent your car out on hyrecar.com’ require you invest time and some degree of physical effort in the money making process. Of course, donating or selling your car will require that you part with it. Which means that of all the above options for making money with your old car only the hyrecar.com option frees you from work, allows you to retain ownership of your car and generates a handsome income stream as well.
Something to think about next time you’re looking out the kitchen window wondering what to do with the old car in the driveway.