I am more of a sedan man, but I owned a pickup truck once. An elder relative of mine told me that a pickup truck is versatile, has multiple uses, and impresses people. He said to me when I was a kid that you don’t need a pickup line if you have a pickup truck. While I appreciated his folksy wisdom, bulletproof cool doesn’t fill up a gas tank. So, if you have one, it might make sense to figure out how to use it to make some money.
How to Make Money With a Pickup Truck
Also, the average pickup truck is becoming appreciably larger and more expensive. The average pickup truck costs about $50,000. That is almost a 50% increase in price from only a decade ago. You can buy a luxury BMW or Mercedes-Benz for the same price. Additionally, it is a bit of a rural legend that all pickup truck drivers use their vehicles for work. Only about 15% of full-size pickup drivers actually use them for business purposes.
If owning a full-size pickup truck has become a de facto status symbol akin to owning a Benz, then money is needed to back up such status. If you use your pickup truck strictly for family purposes, well, then you know there is always a new bill to pay. Here’s how to make money with a pickup truck.
Rent Out Your Pickup as a Mobile Billboard
Ad wrapping companies pay you to wrap your car in removable decals that advertises a local business. An ad wrapping company will match you to a business in your area launching an advertising campaign. For a few weeks or months, you will drive around with your pickup truck looking like a mobile billboard. You’ll be paid by the mile and have a GPS device attached to your pickup to verify your efforts.
Your advertising efforts need to show results and increase the exposure of your advertising sponsor. So, you should drive around parks, sporting events, or anywhere with a dense population of people walking around. Unless you are driving 12-hour shifts every day, and can appreciably increase the brand presence of your sponsor locally, this will only be a supplemental source of income. You can make $100 to $500 a month before adding in expenses like gas, insurance, and maintenance costs.
Drive for Juno, Lyft or Uber
How much money you can make as an Uber, Juno, or Lyft driver depends on your hustle and where you live. If you live in or near a large or medium-sized city, then you won’t want for potential fares. If you work a 40+ hour work week, you could make anywhere from $10,000 to $60,000 a year. Or, even more. Still, you’ll use as much as 50% to 60% of your earnings for gas, insurance, and maintenance costs. Temper your expectations.
Besides working as much as you can, brainstorm ways that you can increase your earning potential. Make a local schedule calendar of major sporting, concert, and public events which will draw large crowds and be available for work on such dates. Combine ad wrapping with your ride-hailing schedule and make two incomes at once.
P2P Car Rental
A pickup truck may be like an extension of your body or a limb to some people. So, only consider this option if you can stand giving your keys to a complete stranger. Peer-to-peer vehicle rental sites like Getaround and Turo matches people who need to rent a vehicle to people renting out their personal vehicles. Insurance coverage is included. You might make an extra $6,000+ a year.
It’s Not the Pickup; It’s the Drive
If you love pickup trucks, you might want to work up to buying a $50,000 model. There are many durable full-size pickups that you can buy for under $25,000.
Do you have a pickup truck that you use to make money? Share your ideas in the comments below.
The post Got a Pickup Truck? Here’s How to Make Money With It appeared first on Clever Dude Personal Finance & Money.