How Owning Your Car Can Get You Emergency Dollars
Most Americans aren’t ready to handle financial emergencies. In fact, surveys have shown that over 70% live paycheck to paycheck and wouldn’t be able to come up with $500 if suddenly the situation called for it.
However, if you are a car owner, then you have some unique opportunities available to remedy this situation.
Here are a few ways you could use your car to get some cash together if you’ve got an emergency to cover.
1. Rent Your Car And Parking Space Out
This is a unique opportunity many car owners tend to overlook. If you can go for a while without using your car – like catching a ride from a colleague to work on weekdays or staying in on weekends –, you can rent it to people who don’t have one.
Websites like Turo and Getaround allow you to securely rent your car out to those who need it. How much you could make depends on how nice your car is. Turo, for example, has a calculator that lets you plug in the basics and lets you know the approximate amount you could make.
You could also rent out your parking space when not in need – like when your car is being rented out. Locations that get easily congested – like city centers – usually attract a lot of daily commuters who only need it for a few hours. Parklet and JustPark are the largest platforms that’ll connect you with prospective renters.
Do keep in mind that you’ll need your landlord’s permission for this one if you’re not a homeowner.
2. Become A Delivery Person
If there’s one business that keeps booming, despite all that has transpired in 2020, it’s the delivery business.
Amazon Flex is the perfect example – it’s built entirely around the problem of customers not wanting to wait for the Post Office or FedEx. This means more of them use Amazon Flex. This means Amazon needs more couriers to cover its ever-expanding market. And Amazon will pay up to $25 an hour.
If Amazon Flex doesn’t cover your area, don’t get discouraged. There are plenty of other apps and platforms that could use a delivery person. You could use apps like DoorDash and Uber Eats for food deliveries, Instacart for grocery shopping, or Postmates for a variety of things.
These platforms all pay between $10 and $20 on average, so just find the one that works the best for you and go!
3. Help People Out
There are plenty of things you can help people who don’t have a car of their own with – like moving, transporting large items like furniture, or help them run errands.
It’s better if you have a large car or a van, but depending on what a person needs help with, even a small car would do perfectly well.
Put up some ads on Craigslist – or use a platform like TaskRabbit – and offer up your services. You might even find your first client on the very same day.
Ridesharing is the most popular choice among car owners, and for good reason. If you become an Uber or Lyft driver in a busy area and can accommodate the busiest hours – which are morning and evening rush hours on weekdays and bar closing time on weekends – you can make a pretty decent side income.
However, keep in mind that it WILL be just supplemental income. And if your regular day job doesn’t accommodate this particular schedule or your area isn’t particularly busy, you may lose more than you gain – since expenses like gas, insurance, maintenance, etc. will not be covered by the company.
5. Get A Title Pawn
If you need the cash as soon as possible and have no time to get it doing a side hustle, you can use your car to take out Alabama title pawns.
What Is A Title Pawn And What Is It Used For?
A title pawn allows you to take out quick, emergency cash when you use your vehicle’s title as collateral. Depending on the resale value and state of your car, you could get up to $15,000 to help you out with an emergency.
This pawn cash can be used when an emergency strikes and you need quick help to pay for it. This can include things like sudden medical visits, home repairs, or even sudden unemployment. Plus, there are a lot of other benefits as well.
What Are The Benefits Of Title Pawns?
Title Pawns are quick and easy to acquire. The application process takes only around 30 minutes to find out if you’ve been approved and for how much, and you only need to satisfy a few requirements to qualify. Those requirements are:
- Be at least 18 years old;
- Have a government-issued ID or driver’s license;
- Own any kind of vehicle that a loan representative at Alabama Title Loans, Inc. can inspect;
- Have that vehicle’s title be in your name and completely lien-free.
If you do satisfy these requirements, our lenders will do their best to accommodate your income and whatever your credit history may be – so you can apply even if your credit score is bad or outright nonexistent.
How Do I Find Title Pawns Near Me?
These days you can simply begin your application for an online title pawn without having to leave the comfort of your home! Our process starts right from our website, where you can find an online chat to help you if you need it. Just follow these steps to get through our process:
- Go to our website and fill out a form found at the top;
- One of our loan representatives from a title pawns near you will contact you;
- After the call, bring your vehicle, vehicle’s title, and your ID to that location for the representative to assess the situation;
- The loan representative will inspect the documents and the vehicle;
- They will then let you know how much you could qualify for and see if they can approve you;
- If the loan representative can approve you, you get your cash!
So if you own your vehicle and need some extra cash, any one of these side gigs or title pawns can help you out!
To learn more about how to get emergency cash, read our articles about making money.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.