3 Easy Ways to Earn Money Using Your Car

 
Now that you’re finally retired, it’s time to kick up your feet and relax. You’ve worked long and hard for this moment so let the endless vacation begin. Before you pack your bags and venture to greener pastures, you may want to double check your retirement savings. A survey by the Employee Benefit Research Institute shows that 14 percent of retirees lack confidence in their financial security. Regardless of your financial status, making an extra buck or two is never a bad thing. Having a side income also eases the transition into retirement life. No need to pick up a part-time job at the local grocery store. Your vehicle holds the keys to money-making possibilities.
When thinking about using your car to make money, make sure your insurance provider covers any of the activities you’ll be doing. You’ll need to make any changes to your insurance profile that relate to your new driving habits. Check with your current provider or use CarInsuranceQuotes.com to see what company can offer you the best coverage for your money-making endeavors. Here are just a few ways you can put your car to work.
 

New Twist on Rental Cars

Now that you have extra time at home, so does your car. Rather than let it sit in your garage, why not put it to work? Peer-to-peer (P2P) car sharing companies like RelayRides offer the car rental giants a run for their money. Most ride share companies provide liability insurance that covers any damage to or theft from your car, at no cost to you. RelayRides extends a $1 million liability insurance policy to all owners. They also pre-screen all drivers, blocking those with bad driving history or unconfirmed identity.
While the concept seems easy enough, be aware of these few caveats. As P2P sharing grows in popularity, insurance laws and liabilities are in question. Coverage laws vary by state. For example, in California, car sharing laws identify when a vehicle owner’s policy ends and the car sharing policy begins. Before you hand your keys to a stranger, review your state laws and make sure the company you select also offers reliable liability coverage.

Joy Ride

Putting a spin on carpooling, ride share operations such as Sidecar pay you to transport passengers to their destination. By matching drivers and passengers within the same location, commuters have an opportunity to save time, money and help the environment. Drivers reap the benefits of extra cash and making new friends.
Much like P2P car sharing, ride sharing has its share of insurance and liability concerns. Most personal coverage policies cover passengers but that may change when you’re profiting from them. Play it safe by taking advantage of discounted AARP rates from The Hartford. Umbrella insurance policies can provide you with added coverage and peace-of-mind without costing you a fortune.

Advertising on Wheels

If road trips lie in your future, make the ride pay for itself. Mobile outdoor advertising businesses like Adz in Motion pay you to turn your vehicle into a moving billboard. The simple process consists of registering your vehicle and getting matched up with an advertiser looking for added exposure. The decals or wraps are professionally installed and at no cost to you. Once the advertisement is adhered to your vehicle, all you have to do is drive to earn up to $500.
The growing popularity of this easy money maker has drawn a market of illegitimate companies claiming to pay drivers for this service. Don’t let this deter you from this great money-making opportunity. Get informed by visiting the Federal Trade Commission’s consumer information site for details on how this scam works and how to avoid it.