Let’s be honest here, owning a car is expensive. There’s those pesky repayments, insurance, maintenance, services and don’t even get us started on the petrol. So, is it time to turn your car into a side hustle?
Here’s how to turn your car into your side hustle
You’ve spent a lot of money on your car; your pride and joy, your number one travel companion, your baby. But let’s be honest here, owning a car is expensive. Not only the initial payment (and repayments), but insurance, maintenance, services and don’t even get us started on the petrol. So is it time to turn your car into you a side hustle?
Here are some ways you could make money with your car:
Rent your car
Renting your car is probably an option that never crossed your mind!
Let’s say you’re going away for a nice relaxing holiday, it’s pointless having your car sit in the garage, letting the battery go flat - when you could be making money on it! Let’s say you’ve got your own set of wheels, but you drive a company car or you prefer to use the Gautrain to avoid traffic. Why keep paying every month for your car when it could be paying for itself?
RentMyRide (www.rentmyride.co.za) is a marketplace that connects people who are looking to hire out vehicles with car owners who wish to make their car available for rent.
Getting listed on the platform is pretty simple. Register and submit information on your car. Then pick and choose the times when you want to rent out your car. Set your price, set your availability and you’re done. Part of the package includes a R5M liability cover and Comprehensive Insurance so you don’t have to stress.
If you don’t mind being a moving billboard, make money with your car advertising. Branding your car is a great way to earn some cash on the side - just for driving.
Branding your car is a thing and there are lots of local companies offering to get this done for you professionally. They’ll take care of a slick and professional looking wrap-job and even find the right branding to match your car. All you have to do is register then drive around in your newly wrapped car and get paid.
Hustle your muscle
Here’s another way to rake in the ka-ching on your car. If you drive a bakkie, you could offer your services as a hauler for people who need to move their stuff but don’t have the right vehicle to do it.
Try listing your services on your community Facebook page. This could be a quick and easy way to get leads without costing you a cent! Word of mouth is also a great way to pick up new leads, so spread the word!
Start a lift club
So, this won’t necessarily “earn” you money on your car, but a lift club is a great way to save money. Chat with colleagues at work who are driving to and from your area and see if you can put together a group of people that are keen to be your riding buddies.
Chat to colleagues who already have their own car and come up with a sharing schedule that works for all of you.
Remember there are also people who don’t have their own transport, so you can invite them to join and work out a fair amount to contribute towards your travel costs. Remember to consider the petrol price, mileage you’ll be doing as well as insuring to include a rate for maintenance costs on your vehicle.
You can use SARS’ Rates Per Kilometer method to work out a fair price on the cost per kilometer. Just remember to divide this by the number of traveller’s and make sure to include yourself, since you’ll also be using your car for travel.
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