Combat the cost of living and turn your car into an asset

One month after the cost of living increase

9 in 10 adults have reported an increase in their cost of living over the past month. This is no surprise, with household energy bills going up by 54%, inflation soaring to the highest it’s been in 30 years at 7% and fuel prices rocketing. Are you finding it more difficult to keep on top of your monthly outgoings? You’re not alone. Almost 1 in 4 said that they found it difficult to pay their monthly household bills since the increase.

With 43% of people reporting that they wouldn’t be able to save money in the next 12 months, we want to help car owners realise that with car sharing they can put money aside to save. It’s time to turn these possessions that sit idle for 96% of the time into a money making asset.

Easy to start side hustle - all you need is a car

More and more people are finding different ways to boost their income, with 46% of Brits now running their own side hustle. You might associate the phrase ‘side hustle’ with arts and crafts, buying and reselling, making objects to sell or offering your services online. We’re here to let you know that you don’t have to be clued up in cryptocurrencies or be the Picasso of our generation to make some extra money on the side - all you need to get started is a car.

“It’s the best example of passive income, because apart from filling up the tank and keeping it clean it’s really no effort” - Antony, Bristol

Boost your income by renting your car out

“With the help of Karshare we were able to earn thousands and thousands of pounds. Without Karshare we wouldn’t have been able to buy our house.” - Saad, Manchester

In times like this, a bit of extra cash on the side is more than welcome, and those sharing with Karshare are already reaping the benefits of the additional income. For Karan in London, Karshare has even enabled him to get on the property ladder. “It’s earned me enough that I’m able to get a deposit now. I started at zero but Karshare’s got me enough that I can put it towards a mortgage.”

Vicki and Ali share their car in Manchester and say “The idea was, anything that we’d get from sharing the car would cover our parking costs and anything that is on top of that is just a bonus. We’ve used that bonus money for flights and things like saving up to dine at Michelin star restaurant. That’s how it came about and I honestly love it.”

David from London has earned £1,115 per month on average over the past 6 months. "After I stopped travelling for business, my car was sitting without me using it, costing money.  Karshare now covers the cost of my monthly car outgoings, and adds a little more on top, which is nice to be able to spend on other things.”

Salman shares his car in Birmingham and says he’s “earned on average of £500+ a month which is absolutely phenomenal. Who would have ever thought that sharing your car for a day or even a couple of hours can create such a great side income!”

Join others and start making money from your car

Have you got a side hustle on the go? If not, this could be your sign to start. Join hundreds of car owners using Karshare and you could earn £650+ a month too. If you’re a bit uncertain, we’ll leave you with this final piece of advice from Saad in Manchester:

“One tip would be with Karshare, just go for it and see where it takes you. Everyone has a different journey. At the start I was a bit fussy about sharing my car and I took the risk and now I’m able to just sit at home and sit back and watch the cars work for themselves.“

Get started and check your car’s eligibility here or book a chat with one of our team to find out more about car sharing.