I think you'll agree with me when I say,
It’s nice to own a car but the cost of maintaining and running a vehicle can be hard to justify. With the costs of car ownership rising, the idea of spending thousands of dollars each year on a vehicle can be hard to swallow.
But there are ways to easily lower your vehicles cost!
Did you know you can rent out your car and offset the running costs and depreciation with very little effort? You can even turn your car into a moneymaker with one simple change in your lifestyle...
Here are some easy ways to reduce your car costs or even get a car for free!
- Rent Out Your Car to your neighbours
Imagine owning a car that earns enough money to mean it doesn’t cost you anything to own - this is how to get a free car.
By renting out your car, you can reduce your vehicle running costs and create a passive income stream with a resource that you already have.
There are always fixed costs with a car - whether you share it or not, you were always going to pay for insurance and registration. Your car will always be a year older at the end than it was at the start.
Renting out your car to other members of your community allows you to offset those costs, and helps your neighbour for when they need to get to Ikea.
If you’ve thought “Hmm, I might like to rent out my car” while reading, check out the three easy steps it takes to start putting your car to work for you.
- Become a Delivery Driver
Granted it is a little more time dependent, but becoming an Uber driver delivering people, or a food delivery service driver for companies like Ubereats, Deliveroo, Foodora or Menulog could earn you some extra cash in your spare time.
- Get a Cheap Car by Lowering Your Costs
Companies and apps like Fuel Check, Motor Mouth, GasBuddy and the 7 Eleven Fuel App are a great way to keep a track of when and where the cheapest petrol is. Saving 10 cents a litre on a 70L weekly fill saves you $364 per year - that’s at least twenty smashed avos on toast.
- Turn Your Car Into a Billboard
Companies like Wrappli will wrap targeted ads on your vehicle and you will get paid for it! If your car is a 2008 model or newer and you have a clean history and a full Australian drivers licence, you could be able to get your car wrapped for a campaign. They rent utes, hatchbacks, sedans and a variety of other car models. It's also convenient for hiding any scratch marks, like that time your shopping trolley practically jumped at your car door. Don’t worry - we’ve all been there.
- Maintain Your Car
An under-inflated tyre means the rolling resistance of the tyres increases, burning more petrol and wears out your tyres more quickly. Most petrol stations have a tyre pressure gauge checker and refiller you can use. Your car tyres recommended psi will be written in the driver's door jamb, the glove box or under the bonnet. If you can’t see it, check your manual for its location.
Clear out any junk! The heavier your car, the more fuel the car has to use. So if you bought that cement for a project and haven’t bothered to get it out yet - do, it’s costing you petrol every time you drive.
Hear from one of our owners Joy, on why she rents out her car
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What our car and van owners are making
Thomas lives in Melbourne and earns $1000 a month renting out his van on Car Next Door after realising he was only using it a couple of times a week. Instead of having it sitting around doing nothing, he has now made more money renting out his van than what he paid for it.
“I was umm-ing and ahh-ing at the time about getting a van, whether I could afford the upkeep. I thought if I could make a couple of hundred a week it would pay for itself eventually.”
The experiment “went really well” and the van soon ended up paying for itself. He now makes around $1000 a month.
By sharing your car on Car Next Door, you can offset the costs of your vehicle and earn an income on it, instead of it being a drain on your finances.
Following some of these ideas will get you well on your way to owning essentially getting a car for free, leaving you that cash for the truly important things in life.