3 Ways To Get Cash Through Your Car

If you’ve been feeling down about your financial situation lately, look on the bright side: It’s never been easier to make money beyond a typical 9-5 job. Sure, you can make money on the Internet from the comfort of your couch by being a virtual assistant, filling out surveys, etc. But another sometimes overlooked avenue to earn extra cash is your car.

Although the list of ways to make cash with your car can be quite extensive, we’ve narrowed it down to three of the best methods that you can start implementing today to see more money in your bank account.

1. Sell your car right now.

Okay, so selling your car at this moment may seem like it would put you in a bind. Here’s why we mention it, though: There’s never been a better time to sell a car.

New cars are having major issues getting to the lot due to a shortage of parts. With fewer new cars to choose from, people are turning to used cars as their vehicles of choice. What’s the problem there? The fact that the supply of used cars is limited. And when you get increased demand with a limited supply, you get high prices.

Statistics show that car dealers are paying a premium for pre-owned vehicles. Trade-ins are fetching twice the usual amount, and private buyers are paying 30 percent more for used cars. Combine those two stats, and you now see why it’s the perfect time to sell if you barely use your car, have a second vehicle, or have been looking to unload what you currently own for a while.

To get the ball rolling, give a local dealership a call. Tell them all the details about your car, such as the make, model, year, and condition. Then, say you’d like to sell it to the highest bidder.

If you’d rather sell on your own, there are plenty of ways to do so via sites like CarGurus.com, AutoTrader.com, Craigslist.org, Facebook Marketplace, etc.

2. Wrap your car in advertisements.

What do Wrapify.com and Carvertise.com have in common? Both are sites that pay people to drive around with advertisements on their cars.

You can earn up to $450 per month by signing up and having your car wrapped in ads. Depending on how much of your car is covered and the number of miles you’ll drive, you could make enough to pay off your car each month or take care of other bills.

3. Rent out your car.

Studies show that travel is booming, with 60 percent more people hitting the road after being stuck inside for so long. This demand has led to a shortage in the rental car supply, which is why renting your car could be a lucrative way to make easy money.

Whether you have a sedan, SUV, or truck, you can list it on sites like Turo.com and Getaround.com to rent it out to others. You get to set the schedule, so it doesn’t interfere with your needs, plus you get to set the price. How much can you make by renting out your car? While you’re in charge of the fees, some people rent their vehicles out for as much as $100 per day.