Cars Are Liabilities That Can Become Assets
If you’re looking for ways to pay down your car note, or earn some extra income using your car, then you’ve come to the right article. Luckily for you, the taxi era is ending and they’re going out of business. This creates opportunity for you and I to make some money in the transportation industry.
As technology continues to better connect people through mobile applications, more and more people are beginning to use transportation services such as Uber, Lyft and Turo.
Here’s how you can turn your car into a money making machine:
DRIVE WITH UBER
Uber– Uber is a mobile application that allows you to pick up riders and drive them to their destination using your own car. Set your own schedule and drive whenever you have spare time to do so. You can make this your part-time or even your full time job, but regardless you’ll start earning extra income in no time. Earn up to $25 per hour as an Uber driver. How do you become an Uber driver? Simple.
1. Sign up to become a driver here and use promo code 7dm4r.
2. Review their driver and car requirements (varies per state)
3. Upload your information
4. Wait to hear back from their support team
Once you’re approved, you’re ready to download the application on your mobile device and start driving.
Want a free ride with Uber to test it out? Sign up here and use promo code 7dm4r when you sign up!
DRIVE WITH LYFT
Lyft is similar to Uber yet the earnings can be slightly less. Depending on where you live, the earnings can vary (cities have higher earning potential) but nonetheless it is added income. The process to sign up is very similar to Uber. If you are interested in starting up with Lyft then click here You will also get $50 in free ride credit!
RENT WITH TURO
Turo in summary is a mobile platform that allows you to rent your car to approved drivers. You select the days/times of availability, the rate of your choice, and any additional fee you wish to add. You can even set daily mileage restrictions! The company itself covers up to $1 million in liability insurance and offers 24/7 roadside assistance throughout the riders’ trip. For a quick overview of how Turo works, click here
If you want to learn more about the car requirements and decide to rent out your car, click here and get started!
Or if you just want to try it out and rent a car for the day then use this link here to get $25 off your first ride.
Use the money you earn to pay your car note, insurance, or virtually anything you chose. Be sure to save all of your receipts because all of your expenses for your car will now become tax deductible.
Personally, I now use Turo to rent out my car on the weekends or when I’m gone on vacation. Instead of it just sitting there, depreciating in value, I’d rather rent it out so that it pays itself off. My personal goal is to pay down the car note faster so I can buy another car cash and rent it out daily. Depending on how the side hustle goes, I may buy a few cars cash and turn it into a side business.
Know of other ways to make money with your car? Leave a comment below: