How To Pay Off Your Car Loan - Using Your Car!

Buying a car can be expensive, and the cost of running it even more so! If you decide the best route for you is car financing, where you pay back the full price of your car in monthly instalments, then there are a few things you can do to reduce the pressure of your monthly outgoings.

Keep reading for some tips on how to pay off your car loan - using your new whip! You may even be able to make an early repayment and gain full ownership of your car sooner than planned.

1. Drive For A Ridesharing App

For car owners, signing up to become a driver for Uber or another popular local ridesharing app is one of the best ways to earn extra income.

Whether you’re an early bird or a night owl, you can choose your schedule to work during morning rush hour, or on bustling weekends when passengers need a ride home from the pub.

Uber drivers make roughly £15.00 an hour, which is 84% above the national average. If you already have a day job, this extra bit of cash will go a long way in allowing you to keep your normal spending habits while saving up for your car loan.

2. Help People Move

Are your friends and family constantly badgering you to help them move items in and out of new homes, offices or even just carry all their sports equipment?

If this sounds familiar, why not actually hire out your services for some pocket change? You can charge your friends and family - they already knew they were taking advantage of your kindness! - and even advertise your new side business online. There’s always a need for a man with a van (or very, very roomy car)!

If you’re physically able, you can also offer to carry the items from the building to the car and will most likely gain a decent tip from going that extra mile.

3. List Your Convertible For Hire

If you have a super cool ride, whether it’s a convertible, classic or just a really cool colour, you can hire it out to people for a photo shoot. People are willing to pay a lot of money for a good Instagram moment!

Whether a hen party or a gaggle of school leavers are looking to rent your vehicle, you’ll only be away from it for an hour or so - and you can even stand close by just to ensure no damage is done to your car.

4. Drive For A Food Delivery App

You can drive for Uber and Uber Eats simultaneously, and if you’re feeling extra ambitious, you can download multiple food delivery apps to make more customers happy in half the time.

Not only will you be able to earn money from the comfort of your car without having to interact with the customer too much, but you’ll get an employee discount on all the food in your local area.

Once you’ve finished your regular work hours, why not hop in the car for some extra cash each week - who knows, you may even get a healthy tip or two!

5. Wrap Your Car

Wrapping your car is a great way to earn passive income. Contact a local company that wants to grow its business and soon you’ll be zooming around, counting pounds as you go!

Usually, you’ll be required to drive a certain amount of miles a day, but if you already drive the minimum requirement, you’ll literally be getting paid just to carry out your normal errands. What’s more, you won’t be adding any extra mileage onto the vehicle, so you don’t need to worry about that affecting your car finance contract.

If you’ve just financed a car, or you are considering getting car finance, keep these simple ways to generate extra money in mind to pay back your loan with ease.

To see what kind of car you can finance, get a quote from us at Quick Car Finance based on your needs, and we can help you get the car you want and discuss payment options.

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