Tips On How To Use Your Car As A Source Of Money

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Buying a car is a long-term investment that engenders yearly costs about servicing, fuel, insurance, road taxes and MOT. However, you, like many others, cannot live without a car, as it is impossible to work, shop, and stay an integrated part of the society without a mean of transport. But, as you might think that cars as a vast cost in a household budget, there are also a different way to think about your favourite motorised transport. Cars, if they can’t make you richer, can represent a solid source of money for your household. Here are the top three tips to make the most of your car.

Sell It If You Can

Often, if you are planning the purchase a new car, or simply if you happen to live in an urban area where public transport can sort you out, you could consider selling your faithful car. You will need to make sure that you give your car the best possible care to give it the highest value. This will start with providing the full service history of your vehicle and only preparing your seller’s journey with an up-to-date MOT and a full checkup of all elements including the engine and interior. A good bonus is also to sell the car with a recent road tax, which you can purchase for a 6-month period. As you check the car, be careful to read through every warranty documentation that you have and sort for the necessary repairs if these can be passed through the warranty. Last, but not least, a clean car will attract more buyers than a dirty one: So, do plan for a full valeting session before you invite buyers for a drive!

Old Cars Are Still Valuable

If your car is old and has too much mileage for you to get the best possible price on it, you may want to research its value for collectors. Some old cars are precious as part of an automobile collection, and can attract a different type of buyers. Consequently if you car dates back from the 1980s or earlier, if it worth checking with local administrative offices for car collectors and vintage car buyers. If your car is not in any road-safe working order you might still consider putting it to the selling market, specifically for parts as this is a very valuable investment. You can work with an expert mechanic, or if you know what you are doing, you can simply turn to Ebay for its advertising. Nothing to get out of your car? You may want to consider a Scrap Car Collection option to receive a payment for its destruction.

Your Car Can Make Money If You Work With It

If you use your car as part of your professional life, you might have the possibility to claim business mileage for all journeys that are work-related but not taking place between your home and your work office. If you are a freelancer working from home, you will be able to record all work-related travel expenses in your taxes, which is a great advantage! Even if you can’t claim any business mileage, you can still make the most of your commute by driving colleagues to work and reducing your overall costs if you decide over a rota system or ask them to participate to your fuel costs. Finally, if you are an avid driver, why not check the possibility to drive for Uber and earn some money on busy nights?