Whether you own a new car or driving it for years, you will agree that car maintenance is costly! Expenses at times mount up so high that it also forces us to think of selling it. But, a car is an excellent and valuable asset and makes some extra cash with it. There are various ways to use your vehicle for an additional source of income. Even old and unused cars are valuable, and they can earn you reasonable cash – so, never consider it a burden.
Some smart ways to earn cash from your unused car
Rent it out
Do you have an unused vehicle lying in your garage, which you hardly use? Why don’t you rent it out?
Cars, whether used or not, needs to be taken to the servicing center once in a while, and it incurs a cost. So, why not utilize it smartly and earn cash from it? Check with the insurer as sometimes renting invalidates the insurance, and also know the state’s law before opting for this option because we don’t want you to get into hassle.
Renting cars is a reasonable mean of earning some easy cash which you utilize during your free times. The amount of rent, however, depends on the condition of the car.
Sell to scrapyard
You can earn cash for scrap cars even for cars that look entirely valueless for you. The amount you receive depends on the condition of your vehicle. But even the most outdated model can earn you substantially because including the body of the car, many other parts can be reused.
While some companies pick up the car from your desired location, driving it to the car removal company is always better as it fetches you a better income.
Use it for advertising
If you are still using the car and have no issues with placing advertorials on it, go for it. If not any brand, you can use your vehicle to be the brand ambassador of your favorite brand.
Once you pick a brand, they will fix the ads for you, and you will get some easy cash at the end of every month. And this is possible for salvaged cars too. Clean the car, place the ad on it, and let it stand at a place where you will get good traffic.
Some people also use it to promote important social messages.
Consign the car
A consignment is an excellent option for people who want to get rid of their vehicle, but do not have time. So, their cars just lie in the backyard and not only eats place but also increase environment footprints.
Hire a consignment company, and hand over the entire responsibilities to them. They will fix it, search buyers for you, get you the best deal, and sells it on your behalf. Then, they will deduct their commission and hand over the cash to you. They generally charge a flat fee, so you don’t have to fear of being cheated by them.
Each part of a car is valuable either in the form of scrap metal or because it can be reused. In case you have an old car, which is lying in your junkyard, take out some time and get your hands dirty – dismantle the vehicle.
If your model is in demand or if you own a vintage car, you are bound to get buyers who will pay you a justified amount. And the parts which are not in reusable condition can be sold to scrap yards.
We would suggest, even if you don’t have good knowledge of cars, hire a mechanic and get your unused car dismantled, rather than hoarding it.