Having an extra source of income can be really helpful. Whether it is to meet your monthly expenses or to have a buffer during financial emergencies. For people who are employed, the options for a side hustle are limited due to lack of time or capital.

If you are seriously looking to make some money on the side and your only asset is a car then we have the answers for you. Here are 5 ways you can get money for your car without selling it.

Ridesharing Apps

We will start with the most obvious and currently popular choice. Ridesharing apps have disrupted the taxi and mobility industry worldwide. They not only offer an easy-to-use solution for consumers but also a viable money-making option for car owners.

The most popular ride-sharing apps are Uber and Lyft, and you can easily get yourself registered with them. The amount you can end up making varies, depending upon your locality and timing. However, according to some drivers, you can make as much as $19 an hour.

Rent Out Your Car

If your car sits idle for a few days during the week or you have a second car you rarely use then another option is to rent it out. The most obvious advantage of this is that you will not have to drive around for others. Car rentals can be particularly lucrative and you can earn hundreds of dollars per month.

Turo and Getaround are two rent-a-car services that you can look at. These services will help connect you with people who need to rent cars and take a cut.

Of course, one downside of renting out your car is the wear and tear and the miles that it will accumulate.

Deliver Food

Delivering food is a source of extra income that is not just for college kids anymore. In fact, if you have a car then you can simply download apps like Uber Eats and DoorDash and deliver food through them.

This option is very useful for people who want a flexible side job to accommodate their day job. Peak orders are during lunch and dinner time. To increase your chances of getting orders you can download multiple apps.

Wrap Your Car

If you simply do not have the time to deliver food or you do not like to deal with customers, then you have another option. There are companies that will pay you to get your car wrapped with their advertisement.

Once you get your car wrapped with an advertisement, you will be paid for the miles you drive every day. This works best if you usually travel a lot during the day or week in your vehicle. Wrapify is a car wrapping company that you can look into for a safe and legitimate way to do this.

Get A Title Loan

The options listed above are great ways of using your car to make money. However, all these options take time and effort to pay off; and, in life, there are many instances where you need immediate cash. Emergencies like unexpected medical bills or house and car repairs can really put you in a financial crunch.

If you need urgent cash and your car is your only asset then you might even be tempted to sell it. But there is an even better and quicker way of getting instant cash for your car and that is to get a title loan.

An online title loan is a loan you receive when you use your vehicle’s title as collateral. The best part is you don’t have to surrender your car while you are repaying the loan! Plus there are a lot of other benefits to title loans.

 

Benefits Of Title Loans

Easy And Quick Process

The biggest advantage of title loans is the ease to obtain and ensure almost immediate cash payment. With Carolina Title Loans, Inc., all you have to do is to fill out an online application form without the need for a store visit. Once you go through our easy process, your cash is either handed to you the same day or the very next bank business day.

There is also no hassle of too much crushing paperwork and the whole process can be finished in less than 30 minutes.

Credit Isn’t Held Against You

Another advantage of title loans is that your credit score isn’t held against you. While most traditional lenders will require you to have a good credit history, there are no such requirements for getting a title loan. Your car is a good enough insurance for title loans so bad credit history can possibly be accepted as well.

Flexible Payback Options

If you take the time to sit down with us and explain your money situation, we will work with you to come up with a good repayment plan. And even if you find you cannot keep up with that plan, just come talk to us and we will see what can be done.

You Can Keep On Using Your Car

Like I said, if you get a title loan SC, your car won’t be requisitioned and you will be free to keep on using it as long as you make the payments.

How To Acquire An Online Title Loan

To acquire a title loan, you can either go the old-fashioned way by visiting a store or you can have one of our loan representatives come meet you at a location of your choosing. All you have to do is to open your web browser and head over to our website to begin.

1. On our website, you will fill out the online form with your basic information.
2. After you submit, a loan representative from a title cash near you will give you a call.
3. They will tell you the required items – your vehicle, title, and ID – and you can give them your location if you want them to meet you.
4. Their representative will either visit you or you will come to one of our stores to check your car along with the car’s title and your state ID.
5. The representative will then let you know if you’ve been approved and for how much.
6. Once everything is in order, the amount will either be given to you in cash on the same day or in your account the very next bank business day.

The next time you are in a tough financial bind, don’t automatically think about selling your vehicle. Your vehicle could actually make you money without you needing to surrender it.

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.