How to Make Money Driving
With so many new apps on the market, the full list of ways to make money with your car has just gotten longer. One of the main benefits of using your car to grow your income is that it provides a lot of flexibility.
You can start and stop at your leisure and only work when you want to.
The most popular method of making money with your car is through rideshare apps. However, you can also use your car to deliver food and other items to consumers.
Keep in mind, however, that some companies place restrictions on the type of car you can use and will place emphasis on your driving history.
If you’re wondering how to make money driving your own car, check out the sections below. For the full list of ways to make money with your car, check out our free guide.
Before 2009, only taxi, bus and shuttle drivers offered ridesharing services. Now, anyone with a car can get paid to drive passengers. Lyft, Uber and TRYP rideshare currently dominate the market.
These apps allow passengers to request rides from local residents for a fee based on distance and time.
There is also “surge pricing,” which occurs when there is a spike in the price due to an increase in demand. This is common during popular holidays and weekends. A portion of the surge revenue goes to the company while the rest goes to the drivers.
Since it first took off, ridesharing has been one of the most popular methods to make money driving. For some, it is a full-time commitment, while others use it as a source of supplemental income.
How much can you make?
“How much do Uber drivers make?” is a question you may have if you are considering this line of work. The answer greatly depends on the situation.
Uber itself has said that drivers can earn on average $25 an hour. However, your income will largely depend on your availability.
When you use your car to make money, you have the flexibility of choosing your own hours. The more passengers you drive, the more money you can make. Your income will also depend on your location and how many passengers are using the app in your area.
Some drivers only use Uber or LYFT rideshare during weekends to take advantage of surge pricing and increase their profits.
With this in mind, it’s all about finding what works best for you. You can start out with a set schedule and slowly make changes to find the balance between the hours you want to work and the profits you want to make.
What kind of car do you need?
To get paid to drive, your vehicle must meet certain requirements. These vary depending on the company and the type of vehicle service you are offering.
For instance, most companies offer different levels of ridesharing, such as carpooling, individual rides and luxury rides. The vehicle requirements for luxury rides are typically stricter than those for individual rides.
To use your car to make money, ridesharing companies will generally evaluate the following factors:
- Your vehicle’s model year and size – Most rideshare apps require drivers to have a vehicle that was manufactured within the last 10 to 15 years. This ensures that it meets certain safety standards and will not endanger passengers.
- Your driving and criminal history – If you have committed multiple driving infractions, you may be seen as an unsafe driver and thus ineligible to make money driving through these companies.
- Your criminal history – Safety is a major priority for rideshare companies like Wingz and HopSkipDrive. As such, they conduct in-depth screenings to review your records and determine if you are trustworthy and reliable driver.
- Your age and driving experience – Drivers must hold a valid driver’s license in their state to qualify as a driver. Some rideshare apps also require one to three years of driving experience.
In addition to making money driving, many rideshare apps offer discounts on vehicle maintenance services and phone plans. Furthermore, if you do not have a car but wish to drive for these companies, some offer discounts on car rentals and leases.
Driving passengers is not the only way to make money with your car. You can also make a quick buck by completing food deliveries using your vehicle.
Companies like Postmates and UberEats (a separate branch of Uber, the ridesharing app) hire drivers who will pick up food orders and deliver them to buyers’ homes.
Drivers can earn money through the fees charged to buyers as well as tips received.
The requirements to make food deliveries tend to be less strict as they do not involve driving passengers. However, you may need to pass a background check depending on the company.