Buying a car represents a huge financial outlay. It stands to reason that if you could find a way to negate that financial impact and claw some of your investment back, it would make ownership more beneficial and attractive.

If you buy a car that has already taken a depreciation hit, that would be a good start and a smart move. Just search used cars for sale Waxahachie, for example, and you are bound to find something suitable.

So, having settled on the perfect used car, how can you set about earning money from it?

Here are some viable suggestions to consider.

Ridesharing is an obvious opportunity

One of the big reasons why ridesharing is so popular is that it is easy to do and is an absolute no-brainer option if you are going to be using your car to commute and want someone to share the cost with you.

If you live in a city area, you are very likely to find some willing customers when you sign up to services like Lyft, or Uber.

In general , you should be able to make a margin of about 70% after deducting expenses.

Rent your car when you are not using it

Another money making option to consider would be to make your car available for rental when you don’t need it.

If you use a service like Get Around or Turo, for instance, it provides you with a level of protection and assurance about who is using your car and how they look after it.

A typical fee would be $40 per day, less about 25% for fees. If you are not using your car for commuting through the week, this option could help your car pay for itself in the meantime.

Deliver parcels and groceries

One of the useful aspects of making yourself available for local delivery services like Instacart and AmazonFlex is that you have a certain amount of control over when you work and how many hours you do.

That means you can generate a bit of extra income from your car, on your own .

Food to go

One of the real growth industries is food delivery driving. With popular services like UberEats and DoorDash almost constantly needing available drivers, you should be able to earn a steady second income from your car delivering food to local customers.

Turn your car into a mobile ment 

There are several companies in the business of selling advertising wraps for cars. Simply putting an advert on your rear windshield could be worth about $75 each month.

That might not sound a lot, but it is virtually money for nothing, with little effort on your part, and it all helps toward paying your car costs.

Some of these ideas might not float your boat, but the main thing to is that you have options to monetize your car and help cover your costs. There is almost certainly one option that could end up offsetting your purchase costs.

Find your next used car, and then start planning how it is going to earn you some extra cash.