How To Earn Money With Your Car (Without Driving!)
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You don't have to drive your car in order to make money with your car. You can rent out your car, RV, or even your parking space and earn some extra money sitting on your couch.
Below we have six companies that offer a sure-FIRE (pun intended) way to earn some extra money using your car.
As you can see from the above cost to rent, those with nicer RVs will obviously make more money. But there are a lot of other factors that go into play. You'll need to take into consideration how long your RV will be rented, where the renter is driving to, and the age of your vehicle.
According to RVShare, you can make $120 to $365 per day on your rental. So say a family rented your RV for a week, you could make between $840-$2,555!
Turo
https://youtu.be/jX-78Ni9_CA Turo is one of the best in the car rental industry right now. They do nearly all the work for you! They set the price of your rental based on the make, model, and year (note: your car must be from 2006 or later), the time of year, and location. If you prefer, you can also manually set your own price.Features
Easy Sign-Up Process You can create your listing for free, and you'll get notifications when someone requests your car. Then all you need to do is coordinate where to meet and check the driver's license of the person renting your car. Insurance Turo insurers your car up to $1 million in case of damage or theft, which is common among all the companies I'm going to mention. Fees Just because it's free to list on Turo, doesn't mean part of your cut won't go back to Turo. With Turo, you'll receive a whopping 90% to 65% of the prices you set depending on theĀ host protection planĀ you choose.How Much Can You Earn?
So how much can you earn renting out your car with Turo? You can use their handy calculator to estimate how much you can make. I used a 2014 Ford Escape as an example, and here's the estimate I received:
Who Is Turo Best For?
Turo is great for those looking a company that does most of the work you. Turo will list your car and set your prices. All you have to do is meet you renter when they come to pick up your car, and then you'll get paid once the driver leaves.Maven
https://www.youtube.com/watch?v=ThKlr-P_e2g Maven is another car rental service. It's free to use and those who rent out their cars will earn 60% of the rental cost.Features
Bonus You'll get paid weekly, and if you list your car for three months you'll get an additional $150 bonus. There are some stipulations to this bonus, however. For instance, your car must be available for rental 50% of the days of the month. If you don't drive frequently, this shouldn't be a problem. Insurance Maven sets itself apart from other car rental services in a few ways. In addition to the standard $1 million liability policy, you get OnStarĀ® Safety and Security Plan1 coverage. So if thereās an emergency, one push of the red emergency button can give a priority connection to a specially-trained advisor. 4G LTE Wi-FiĀ® Also, if your vehicle is properly equipped, Maven will enable your built-in 4G LTE Wi-FiĀ® hotspot2 to connect up to seven devices, so you can stream music and movies and access apps and social media (not when you or your renter is driving, of course). Fees With Maven, you'll earn 60% of the cost to rent. Maven pockets the other 40%.How Much Can You Earn?
Maven focuses on weekly rentals, which start at $199/week. They offer an example of three cars and how much you can make:
Who is Maven best for?
Maven offers a lot of high-end features, so it's great for those looking to make the most money with a car rental service. They offer OnStarĀ® and 4G LTE Wi-Fi, and you can make $199 or more per week!Getaround
https://youtu.be/ugP9n0540Ac Getaround is similar to Turo and Maven in a lot of ways. You can list your car for free, and you'll get a notification when someone wants to rent your car.Features
There are a few things that make Getaround a little different:- You can set a weekly schedule to block off days your car isn't available
- All cars include primary insurance during rentals (you'll need insurance for the times your car isn't being rented)
- Getaround will work with you to find the best place to get repairs if and when your car needs them
How Much Can You Earn?
Getaround charges drivers $5/hour to rent your car, and they claim you can make thousands per year, making them a decent side-hustle if you don't use your car a lot.Who Is Getaround Best For?
Getaround is best for those who want a little extra from renting out their car. Getaround caters to those who want to rent out their cars, by offering help when looking for a mechanic, and a weekly schedule that you control.HyreCar
https://www.youtube.com/watch?v=0dGZADRfrHE HyreCar is yet another car rental service that's free and easy to use. But there's one big difference that sets HyreCar apart. You can rent a car so you can drive for Uber or Lyft.Features
Semi-easy sign-up processĀ Because your renter will be driving for Uber or Lyft, HyreCar works a little differently. When you sign up to rent out your car, you'll need to have Uber and Lyft inspection documents to submit. That means your car has to meet Uber and Lyft's tough standards. After you sign up, you'll be notified when folks want to rent your car. Meet up with them, check their driver's license, and as soon as they take your car you'll get paid. Insurance With HyreCar, you don't have to worry about getting insurance for your driver. Since they'll be driving for Uber and Lyft, HyreCar takes care of getting insurance. Fees HyreCar takes less commission than many of the other services I've listed. They take a 15% commission on the listed price of your car.How Much Can You Earn?
According to HyreCar, car owners who list their vehicles with HyreCar make an average of $12,000/year for each car listed!Who Is HyreCar Best For?
HyreCar is best for those who are willing to rent out their car for others to drive for Uber and Lyft. That's the whole point of this service, after all.Outdoorsy
https://www.youtube.com/watch?v=CDdOlaPfja8 If you own an RV, there's even a rental service for that! Outdoorsy is the largest RV rental service out there.Features
You'll get many of the same security, and insurance features that the other car rental services offer, including:- $1M insurance covering both renter and owner
- DMV check on all drivers to make sure your RV is safe
- 24/7 RV Rental Roadside Assistance
- Great customer service
How Much Can You Earn?
Depending on your RV, you can earn $420-$840 in just one rental. Here's a quick example of what you can make if you have a fifth-wheel airstream:
Who Is Outdoorsy Best For?
Outdoorsy is the largest RV rental site/app out there, so it's great for those looking for a secure, established RV rental service. They do DMV checks on all drivers, so you know whoever is renting out your RV has been cleared by a reliable source. In addition, Outdoorsy has great customer service for both you and your renter, so if you ever have a concern or question, you have a reliable team behind you.RVShare
RVShare is similar to Outdoorsy. As you can tell from the name, you can rent out your RV. And you can make quite a bit of money doing so!Features
Easy Sign-Up Process And Payment system You can create a free listing and set your prices and availability. Once someone books a rental, and they come to pick up the RV, you'll get a direct payment right to your bank account. Payment doesn't get much easier than that. Great Assistance In addition to an easy listing process, you'll get the following:- 1-on-1 support and training from RVShare professionals
- 24/7 roadside assistance for your renter
- Rental insurance coverage
- Renter verification checks
How Much Can You Earn?
As you can see from the above cost to rent, those with nicer RVs will obviously make more money. But there are a lot of other factors that go into play. You'll need to take into consideration how long your RV will be rented, where the renter is driving to, and the age of your vehicle.
According to RVShare, you can make $120 to $365 per day on your rental. So say a family rented your RV for a week, you could make between $840-$2,555!
Who Is RVShare Best For?
RVShare is great for those with higher-end RVs. Based on the example prices on their site (see above), those with nicer RVs really make the most money.Bonus Option! CurbFlip
Taking a step back from car and RV rental services, let's talk about CurbFlip, a parking spot rental service. If you don't feel comfortable renting out your car, or if you don't have a car and still want to make some money, rent out a parking spot.Features
CurbFlip Handles Most Of The WorkĀ The best park is that CurbFlip does most of the work for you. All you have to do is list your parking spot, and CurbFlip will book the parking spot. Then you'll start earning money! You'll get paid via PayPal. Availability CurbFlip is available in a lot of places, both in the U.S. and abroad. Some of the major cities where you can make the most money on your parking spot are:- Los Angeles
- New York City
- London
- Chicago
- Tokyo
- Philadelphia
- San Francisco
- Berlin
- Seattle
- Honk Kong
- Paris
- Atlanta
How Much Can You Earn?
CurbFlip has an interesting business model because they leave the pricing to you. If you live in a big city where parking is scarce, obviously you'll make more money than someone who rents out a space in the suburbs. CurbFlip recommends charging a fair price, so you can get consistent customers. They say this is the most reliable way to make money.Who Is CurbFlip Best For?
CurbFlip is best for those with a free parking spot they feel like renting out. If you rent an apartment that comes with a parking space, but you don't have a car, consider renting it out (with your landlord's permission, of course).Final Thoughts
Making money with your car isn't hard anymore. From renting it out to working as a mover, there's almost an endless amount of ways to earn a little extra cash and offset the cost of depreciation. Related Articles- Chase Ink Business Cards: Don't Leave $2,250 On The Table
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