5 Ways To Use Your Car to Make Cash Fast
If you own a car, or are thinking of buying one, you’ve probably calculated the costs and expenses. I bet it is safe to say you agree that expenses can pile up quickly. However, there are ways for you to turn owning a car into a profit – if you’re up for earning a little extra cash.
Below are some of the ways you can use your car to ear quick cash, instead of burning through your monthly budget on gas or parking.
How To Make Your Car Make Money For You
Become An Uber Or Lyft Driver
There are four simple steps. You need to be old enough to drive in your city. You also have at least one year of experience as a licensed driver. You must pass a background check to verify your driving record and to make sure you don’t have any criminal history. And last, but not least, you need to own a four-door vehicle with proof of registration and insurance. The ride-share industry is a great way to get cash by using your car.
Alternatively, if you have a background in childcare, you can also use your car to carpool children, or an even higher-paying job would be to become involved in airport shuttling services.
Rent your car
Let’s say you have an extra car sitting in your garage because your new job is a long commute and you prefer to take the train. It’s time to make money off that car. Platforms like HyreCar will let you rent your vehicle to local drivers. You can make anywhere up to one grand renting your car on these platforms, to independent contractors looking to rent a car without the hassle of buying one.
You can deliver packages to various locations using your vehicle to get about. Join an existing service like Amazon, where couriers earn anywhere between $20-$25 an hour. All you have to do is schedule a block of your time when you are available to make deliveries, pick up packages from an Amazon warehouse and then you use your app to get directions for delivering said packages.
Subsequently, you can also deliver food. Uber Eats, Postmates and DoorDash services are available in hundreds of cities across the country. There’s a steady income of cash waiting for you in this sector as long as you’re familiar with your part of town and can get the food delivered safely on time. Most of these platforms require that you fill an online application, pass a background check and own a vehicle.
Get Title Loans
Another way to use your car is to get cash for your car title – what we call a title loan. If you are wondering what a title loan is, it’s easy to understand. A title loan is a loan that uses your vehicle’s title as collateral. No matter what the vehicle – either a truck, SUV, car, or even a motorcycle – as long as the title is in your name and free of prior loans, you can use it. So if your car falls into those categories, then you could potentially use the title as collateral and get cash. And the best part? You can check to see if you and your vehicle qualifies absolutely free at Carolina Title Loans, Inc. today.
How Do I Find Title Loans In South Carolina?
Wondering where you could get a title loan? Well, anywhere in South Carolina! Carolina Title Loans, Inc. has a location all over South Carolina for you to visit. But if coming to the store isn’t something you want to do, you can have us come to you! You read that correctly; when you speak to us over the phone, make sure to give us a good location to meet you. You could choose anywhere – even your own home – and we will come meet you! The rest of the process is the same, so you will still have paperwork to fill out and mandatory items to have with you.
Now, you’re probably wondering what the process is like. That is also quick and easy to understand.
How Do I Get A Title Loan?
Like I said, our process is easy and convenient. It starts with you filling out our online form. Once the form is filled out and submitted, your next step is to wait by your phone. As soon as we have your form, a loan representative from the nearest location will give you a call. During this call you will learn what you have to do next and what mandatory items you have to have. This is also when you’ll give us a location to meet you – if that is the option you choose.
Whether we meet you or you come to us, the rest of the process is the same. You will meet with a loan representative who will go over the loan application, your mandatory items, and perform a vehicle inspection. The mandatory items are very easy items – chances are you already travel with them. All you need is your driver’s license or ID, your vehicle’s title, and the vehicle. The vehicle is for a quick vehicle inspection that’ll determine how much you qualify for. You will also sign the loan agreement if you agree with the terms. Then, if you are approved, you will either have the cash right there or in your account the next bank business day.
Advantages Of Title Loans
Now that you know what a title loan is and how to get one, here’s why you should!
- Unlike other traditional loans, a poor credit score will not affect your chances of getting approved.
- You get to keep your vehicle while repaying the loan. Just make sure to stick to the repayment schedule.
- You can use your title cash for emergencies and unexpected situations.
- You will find out if you’ve been approved within minutes of applying.
Whether you decide to rent your car out, use it to deliver packages, food, groceries or something else, or you decide to cash in on a quick title loan, there is always a way to ensure that your car pays for itself. So go on out there and start making those simoleons!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.