Who would have thought that instead of buying new cars, people are now more interested in renting cars and having other drivers chauffeur them around town? The cost of motor vehicles has decreased in recent years. Compact cars now exist for low-income earners. You can get a car for less than $15,000. But these did not make people more interested in cars. The traffic is a killer. The cost of fuel and toll fees eat up on our savings.
That’s why car-sharing platforms became popular. You can make money as a car rental for Grab drivers. Even if you don’t have a car, you can make money by driving a rented car that’s meant for these ride sharing platforms. If you do have a car, you can rent it out to Grab drivers. There are plenty of ways to earn extra cash from owning a car and knowing your way around town.
Rent out Your Car
Do you not use your car on weekends? Do you barely use it on weekdays? Is it okay for you to use public transportation when you don’t have anywhere else to go after work? That frees up your car, doesn’t it? You can rent it out to tourists and other people who need a vehicle for only a certain day. The money you make from renting out your car can pay for its mortgage and insurance.
Rent out Your Parking Space or Driveway
If you’re always bringing your car with you, why not rent out your garage or driveway to other commuters? There may be some people who need a space to leave their cars when they are at work near your residence. Let them park their cars in your garage or driveway. You can earn as much as $1,500 a year.
This passive income won’t even require you to do anything. Just make sure that the garage or driveway is on private land. You cannot rent out your street parking space because that’s assigned to you by the local council.
Drive for Tourists
If you love driving around the city during weekends, why not offer tourists your services? They need someone to take them around the city. You can pick them up from their hotels and take them around town. Many are willing to pay for this kind of service. They love the idea that they won’t need to bother with public transport anymore.
Share Your Car
If you are going to the same destination as other people in your neighbourhood, start a carpool. This way, you won’t have to shoulder the rising fuel costs and toll fees. You can split the costs among yourselves. You can sign up for such services with different platforms so that you can reach more people along your route.
There are plenty of opportunities to earn extra cash when you’re willing to let others use or ride in your car. You can use the money to finance your car or bump up your emergency fund. This is a good side job instead of taking part-time work that will eat up your hours.