We, here in the US, tend to accumulate a lot of stuff – stuff that generally sits around doing nothing but costing us money or occupying space – stuff like our car! “Oh No”, you say, “my car is like a family member, my baby, my best friend!” Unfortunately, often owning a car can also be like owning a money pit, so I’ve gathered six ideas to help enlist your costly best friend or child into a full fledged paying member of your happy little family!
- PHOTOS – Isn’t she beautiful? Take photos of her, in all her splendor. Take pictures of her at the beach, the lake, in the snow, in the country. Take pictures of you two together having adventures. Once you’ve taken pictures you find brag worthy, upload them to any of the online stock photo sites like Fotolia, Shutterstock. Get paid anytime someone downloads them for use.
- MOVIES – She ought to be in pictures! Companies like MovieVehicles.com are constantly on the look for cars for their movies. Register your vehicle and let her make a quick buck as an extra or maybe even the lead!
- RENTAL – Not using your car right now? Or got a spare baby to share? Try Turo! Turo is a peer-to-peer car rental service that operates kind of like an AirBnB by putting owners together with renters to earn some extra cash.
- ADVERTISING – Do you and your car take a lot of trips? Or do you frequent densely populated areas? If so, dress your car up in advertising sponsors car wraps. Companies like My Free Car help partner you and your baby with paying sponsors just for flashing their brand during your regular routine driving. It can be as little as displaying a sponsor decal to a full car wrap depending on the sponsor’s needs. You don’t have to change where you’re going, just the clothes your car is wearing!
- DUAL INCOME – Uber & Lyft are common ride sharing options for you and your car, but you can increase your drive share revenue by implementing technology such as Vugo which brings content and advertising to your riders while they travel. So you’re getting paid from two sources for the same work. I’m all about maximizing the ROI.
- PEER-TO-PEER HELP – Running errands in your spare time? If not, why don’t you and your car go out and earn cash running errands for others? Companies like Task Rabbit help connect those with the means (i.e. the car) with those with the need. Is your vehicle a truck or van? Check out GoShare or Buddytruk to provide assistance moving larger items for folks without a truck.
Be sure to check on the requirements for each of these methods before signing up for anything. So there you go – six money making ways to make money using tools you already own and that can make your car help pay for itself!
And remember….no matter what anyone tries to tell you….all income earned is reportable on your income tax return. If you have any questions about whether any of these things are taxable and what kind of things would be valid tax deductions for this income or if you’d like to see a post about another specific idea or question, please reach me here! or feel free to comment.
We’ll chat again soon!