Your money-making expert. Financial journalist, TV and radio personality.
Ever considered that you might be able to make money from your car?
Running a car is an expensive business. The cost of buying the car, including any car finance, maintaining it, plus fuel and insurance, all add up. It’s time to start making your car pay for itself, whilst considering its future value.
Here are eight ways you can use your car to make you money.
You know you’ll sometimes see a poster on a bus or a logo on a taxi?
Well, companies will pay you to put ads on your car. You’ll get paid because you’ve turned your car into what is: essentially, a portable billboard.
It’s called vehicle wrapping, and you can make about £100 a month doing it!
In order to be considered you’ll need to have:
Ads on your car can be added and taken off without spoiling your paintwork, and there’s full insurance should something go wrong.
Each company works differently. Some ask you to drive a certain number of miles before you get paid, whereas others will match the advertising fee to your usual routine.
We would offer up a note of caution about this method of making money, however.
For some reason car wrapping can attract more than its fair share of scammers. It’s important to fully research a company before deciding to hand over information and getting the ads on your car.
Search for reviews of the company on Google, find an email address on their site and send a message to get some information before handing over your details. Make sure the company has Facebook and Twitter pages with recent updates. If it seems fishy, it probably is!
The right number plate can be worth a fortune!
’25 O’ is the priciest number plate ever sold by the DVLA. It was bought by Ferrari dealer John Collins in 2014. The plate is now thought to take pride of place on Ferrari 250SWB, once owned by Eric Clapton. It cost £518,000 (the number plate, not the Ferrari!)
They make a good collecting opportunity, But there’s also a chance that the number plate you have now might just hold some value.
If your number plate happens to contain a word, someone might pay a fair bit to get their hands on it.
Even if it doesn’t spell a word it might have popular initials. This again would entice people to spend good money to be able to own it.
If you think your number plate might be worth something you can get a free evaluation from sites such as carreg.co.uk.
Places you can sell your number plate include:
If you’re serious about number plates you can make good money investing in them, It’s just a matter of knowing what kind of plates to look out for, and holding onto them until their value is at its peak.
No, this isn’t cheating. Taking part in a car boot sale is a great way to make money with your car!
Most of us have a load of unused or unwanted items that we could probably sell for a bit of money. A car boot sale is a great way to do this.
It’s a case of finding what’s lying around your house that could potentially be worth a few quid, and loading it into the boot of your car.
Go around a few car boot sales first so you can pick up on what works well. Keep your pricing simple, and come prepared for all sorts of weather. It’s the UK, after all!
If you have items left over to sell after your car boot sale, sites like Gumtree provide a quick and easy solution. Unlike a car boot sale, you won’t need to wait for an opportunity to come up in your community to do this. Simply post your ad on Gumtree and meet with local people in your area to sell your unwanted items.
For many people, becoming a driving instructor would be the ideal job. Benefits include flexible working hours, the chance to be your own boss, and potential earnings of £20-£30,000.
If you’re serious about a career as a driving instructor then there are certain things you’ll need. You must:
You’ll have to be dedicated if you want to become a driving instructor. Training can take a year to 18 months to complete, and will cost anything between £2,500 – £4,000.
Being a courier is a great way to make money with your car. You don’t need to quit your job or invest any money – you simply do jobs as and when you can.
There are over 60 courier companies in London alone, and more than 1,300 across the whole of the UK.
As a courier you’d be carrying parcels in your vehicle to their destination, on time and with minimum hassle.
You’d be self-employed but contracted out to various courier companies. All the jobs are recorded by you and the company, and you invoice the company at the end of the week or month.
Beginning as a freelancer means you can start in your spare time and work around your current job while you build your business network. If you don’t work, you don’t earn. But the further you go and the more you can carry, the more you’ll get paid.
Obviously, if you’re planning on delivering a lot of items then it makes sense to have a bigger vehicle. You don’t necessarily have to deliver big items in bulk, but it’s important to have sufficient room for a few items if you’re going to make a real go of it.
The average salary for a UK courier is £25,000. This could vary considerably, depending on how much time you can put into it.
Remember, if you do become a courier, don’t forget to notify the Inland Revenue so you’re paying the right amount of tax and won’t get a nasty fine later.
The paper tax disc might be a thing of the past but hopefully you didn’t throw yours away. It could be worth a nice sum of money (we did warn you)!
Admittedly your tax disc probably isn’t worth very much at this particular moment (tax discs from 1926 in average condition are only selling for £40). But hold on to it and the value will increase.
People (veleologists) actually collect tax discs. The highest amount paid was for a disc from 1921, which sold for £810.
Much like stamps, your tax disc may become a rare collectible. A veleologist might be willing to pay big money for it!
Collectors are often excited about saying they have the ‘earliest’ and ‘last’ version of the items they collect. So it could be your last tax disc that ends up the most desirable.
If you happen to have a tax disc without perforated paper around it then you’re in luck.The DVLA ran out of the paper towards the end, which means your disc is rare!
Remember, look after your disc well as you wait for it to become valuable. Any damage will reduce the value straight away.
Why travel alone when you could turn your empty seats into cash in hand?
To do this, look at the regular journeys you make, whether it be to work each day or a trip to see your family over the weekend. Find out if anyone you know is heading the same way.
If there’s a colleague at work who regularly gets the train, why not offer to give them a lift in return for a contribution towards the petrol money?
We all know the cost of train travel (and the hassle of delays). This way, you’ll be saving them money and making some yourself.
If you can fill all your empty seats you could cover your fuel bill completely.
Lots of parents aren’t able to do the school run, so are happy to pay for a school run nanny.
As a school run nanny it would be your job to either drop the kids off or pick them up from school. You might also need to supervise them as they do their homework, or until their parents return.
You don’t need to be qualified to do this, but it will help if you have a nanny qualification or you’re an ex nurse or teacher (this reassures the parents that their kids will be safe with you.)
Whatever your qualifications, you’re likely to need:
You may need to alter your car insurance to cover the child passenger, or invest in a child car seat. If this is the case, make sure the parents reimburse you.
The most effective way to get a job is through a nanny agency, such as Top Notch Nannies, and you should expect to be making at least £10 an hour.
For future investment, it is worth considering how best to retain the value of your car. With over 160,000 pre-owned vehicles available to search and purchase on Gumtree each day, buying and selling cars can be as valuable as picking one up one brand new.
You can also get a free car valuation using Motorway’s helpful Car Value Tracker. Your vehicle is valued by using current car market trends and live market data from Motorway’s used car marketplace.
Simple actions such as regular service checks and MOT tests will ensure your car remains in good condition when the time comes to sell it.
A Gumtree spokesperson said: “ There are a number of things you can proactively do to both protect your car’s value, ensuring that you get the best return when it’s time to sell, with taking care of your car’s condition and maintenance a key priority.
In a rush? Use the calculator below for a quick valuation
Which of these methods will you be using to make money from your car? Maybe you’re already doing a few of them? Let us know in the comments section below.
Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.