I was reading an article on WalletHacks about how to make money with your car and it reminded me of an idea that I had for my own car. The idea was pushed very far back in my mind.
What’s the idea? I’m looking to rent my car. People can rent their cars via Turo.com. I have an old (2001) Mustang Convertible with low miles in very good condition. (Yes, I wasn’t always fiscally responsible.) I’ve been keeping it off the streets for a few years because it wasn’t car seat friendly for the kids. The back seat was just too small. It simply wasn’t a very practical car for us.
We live in a beach area, I think there might be a small market for people who want to cruise around. Maybe there’s no market for it, but it’s a try, right?
I had a similar thought a few years ago. We had paid a few thousand dollars for a great fence to keep our dog safe. (I didn’t think it was a great fence, but I’ve had a lot of compliments on it. I didn’t think that complimenting people on their fence was a “thing”, but it seems that it is.)
In addition to the fence a dog costs money. What I never thought about at the time is that a fence and experience with dogs could make me money. Without the two, I wouldn’t have my dog sitting gig.
A few years ago, I got solar panels. The idea wasn’t to make money, it was about limiting our expenses. Solar panels aren’t cheap… they are a big expense themselves. This money we paid literally $2 dollars for electricity (which was subtracted from a large credit we had from previous months). In a decade our Lyft/Uber gPod will make us money.
Finally, there are people who rent out their rooms via AirBnB. It’s not a good fit for us right now. I’m worried about stranger-danger with our 3 and 4 year olds. For many others, it is a great way to make a few extra dollars on the side. I believe that many of them didn’t think, “I’ll buy this really big house to make an income.”
Are any of these ideas of a good fit for you? Do you have some new ideas? Let me know in the comments.
Sell your Mustang. :)
It might be a good experiment to rent it out. How does insurance work? Try it and see.
Lazy Man says
The KBB price on it isn’t that high. Between the sentimental value and future use (kids are getting old enough that they can use it) it’s worth keeping it.