If you have a car but don't have time to use it for services like Uber or Lyft, you can instead rent it out to people who need it.
The money you earn depends on your location, availability, and car model. For instance, a full-sized SUV can earn around $100 per day while a regular economy car can cost $50 per day. You can also charge clients by the hour if you need to use the car within the day.
To start renting out your car, sign up to rental websites like Kayak, Turo, and Virtuo. You can also advertise your car rental service through trusted peer-to-peer platforms.
When renting out your car, make sure it's clean and roadworthy. This will boost your popularity and establish a regular clientele. With enough customers, you can passively earn up to $1,000 per month. Best of all, you don't even have to pay for gas. You just have to maintain your car so it’s in top condition.
If you're a bit hesitant to rent out your car to strangers, you can instead use your vehicle as a moving billboard.
Advertising with your car is as simple as adding stickers wraps on your vehicle and driving around town. It's the most time-effective way to make money if you're doing a lot of errands and frequently out and about.
To advertise with your car, sign up to advertising platforms like StickerRide, Wrapify, Carvertise, and ReferralCars. Some companies pay hundreds of dollars per month to advertise their slogan or logo. You might even receive commission per customer they earn.
Campaigns can take as short as a few weeks to several months, so you'll always have work in store for you.