Ahh, the dreaded daily commute, filled with traffic jams and seemingly endless road construction.
And if you drive a car to work every day then this probably sounds all too familiar, right?
Well, spending time trapped in traffic each morning is hardly anyone’s idea of a good time.
But, thanks to the Internet – and these 4 websites – it doesn’t need to feel like wasted time.
You see, what if there was a way to turn your car into a passive income stream?
Passive income (according to Wikipedia), “is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it.”
“Passive Income is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it.” Wikipedia.org
Now, the 4 websites listed below have nothing to do with running a taxi cab or offering home deliveries.
Instead, you’re about to discover legitimate opportunities to earn significant passive income from your automobile.
Table of Contents
4 Ways To Turn Your Car Into A Passive Income Machine
Rent Out Your Car (Peer-To-Peer Car Hire)
A 2007 Harvard study discovered that the average American spent 101 minutes a day driving.
This means that for up to 22 hours a day your car is sat idle in a garage or car park.
But with the car hire service Turo.com, you can turn that idle time into hard cash!
That’s because through Turo’s peer-to-peer car hire website you can rent your vehicle out to local people.
Plus when it comes to car insurance, Turo has you covered.
Turo will provide vehicle insurance cover for the entire time that your car is rented out via their company.
So you don’t need to worry about your insurance policy being affected in case of an accident.
Now the amount you car can earn is largely dictated by your car’s market value.
For example, if your car’s worth $20,000 then by Turo’s estimates your vehicle could earn over $1,000 per month.
Do You Own A Van?
Are you a van owner? Then you need to check out the easyCar Club.
The easyCar Club, (part of the easyGroup holding company that also owns the popular airline service easyJet), is a peer-to-peer car rental service.
Except they also offer a van rental service in addition to their growing local car hire facility.
Turn Your Car Into A Mobile Billboard (Car Wrapped Adverts)
Wrapify pays drivers by the mile to ‘wrap’ their vehicles in advertising – it really is that simple.
There are three paid levels of wrap coverage. You can choose between a basic side panel, a partial wrap or a full advert wrap of your car.
A full advert wrap (like the one shown on the car above ) could earn you an extra $452 per month.
Concerned about possible paintwork damage? You don’t need worry.
Getting your car ‘wrapped’ in an advert doesn’t do any damage to the paintwork of your vehicle.
Rather, the wrapping film itself is designed to be applied and removed cleanly without hurting your cars paint job.
Plus the actual job of applying and removing the advertising wrap is all done by a Wrapify professional installer.
Don’t drive that often? Why not cash in on your parked car?
If you don’t get a lot of mileage out of your vehicle, you can still pocket a tidy sum.
Carvertise.com pays car owners to wrap their vehicles in advertising, and then park them up at specific places.
Provided your car stays parked at a specific place for a set time window, you could earn up to $30/hour.