In times of austerity you can often find a useful way of generating some cash from the most unlikely sources. For example, your car could help you earn an additional income or help you access a loan, it’s all a matter of realising that your car is an asset, and not just a gas-guzzling machine.
If you need a holiday, turn to your car
An easy and safe method of raising a loan is to approach a logbook loan company. Car Cash Point will give you a loan of up to £50,000 as long as your vehicle is under 10 years of age and free of finance. The good thing about this option is that you can repay the loan at manageable weekly segments, so you won’t be plunged further into debt, by having to make the total repayment in a single one-off payment. When your sitting on a far off sunny beach, courtesy of the money generated from your car, you’ll soon be looking at your vehicle in a different light!
Try Liftshare and save some money
Most people dread the morning commute; it’s expensive, frustrating and dull. If you look at your fellow drivers and notice how many vehicles are only partially occupied, you’ll also realise that there are probably too many cars on the road anyway. If you turn to the UK’s appalling rail services, you’ll have to spend even more money and waste a considerable amount of time waiting for trains that are delayed or cancelled.
One way around these problems is to seek out a local liftshare company and see if you can save money by offering a lift to those who are also travelling in your direction. According to The Daily Telegraph the scheme is becoming so popular that it’s also attracted the interest of 650 corporate customers, who will pay members of the scheme to share their cars to ensure that all get to work on time.
You might also consider driving more economically to save cash – hypermiling techniques can improve the MPG performance of your car. For tips, click here.
If you’ve got a stylish car – flaunt it
If you’ve got an interesting car you can always make money from it by getting in touch with the advertising industry. Not every vehicle on every photo shoot is brand new, and you’ll often see models draped around a vintage Alfa Romeo, or a customised Volkswagen. It’s worth sending in some photos of your car out to agencies, and you might find that you have the specific car that they’re looking for their next campaign. And if you ever need tires, there are great places out there like Tyre-Shopper.co.uk.
Sell advertising on the side of your car
If you use your car a lot, then why not earn some additional income by allowing local companies to promote their brand on your motor? The financial website Money.AOL.co.uk suggests that you can earn an additional £220 a month if you agree to have the sides of your motor festooned with a company’s logos.
Turn your car into a taxi
As long as you have the correct permits from your local Town Hall, then you could register as a taxi driver, and carry out this occupation at weekends and during the evening. You can either pay a fee to a local taxi firm, and they’ll put work your way, or you can try to run your business through Facebook, Twitter and your own website.
