In today’s soft second-hand car sales market, you may not fetch the desired sale price – or worse still with no demand for the car type that you own. There is now a way that you can come out a winner in spite of such a situation. Here are a couple of scenarios to illustrate the situation:
Suppose, for example, Jack has two idle cars, (i) a 2015 1.3 Myvi and (ii) a 2012 1.6 Fiesta. He plans to sell both cars, and both cars can either be sold or not. (A= sold ; B=not)
SCENARIO 1 : (Aa)
Jack puts up an ad to sell his Myvi for RM32,000, and Fiesta for RM23,000. Interested parties were agreeable to the listing price and bought it without negotiation – which is an almost impossible scenario.
SCENARIO 2 : (Ba)
Jack sold his Myvi for RM32,000 whilst his Fiesta which has been listed for months had no takers. In the meantime, the Fiesta has managed to sit idle in the car park and collected quite a bit of dust – not to mention further depreciation of the car value.
SCENARIO 3 : (bA)
Jack sold his Fiesta for RM23,000, and he could not get a good price for his Myvi, hence the Myvi continues to sit idle in the car park (and yes, collecting dust as well).
SCENARIO 4 : (bB)
Jack found out that he can earn a passive income on Kwikcar by sharing his cars. He decided to list both his Myvi and Fiesta, and both cars were rented out intermittently – earning him an average of RM2,000 a month (1,000 for each car). The Myvi was sold 12 months later at RM28,000 and the Fiesta (finally) had a buyer around that time. He managed to generate RM40,000 from his Myvi over that period of time and put his Fiesta to good use whilst awaiting a buyer.
Putting this into perspective will make a lot of sense for people to share their underutilized (or spare) cars, instead of selling them. Whilst car sharing might not make you a millionaire, but it is certainly one of the best ways to generate a consistent passive income month after month. You can keep your day job whilst your car work for you. Isn’t that amazing?
We live in an era where our basic salary may not be sufficient to cover the rapidly rising cost of living. Let Kwikcar show you how you could be driving your car for free, and still have enough to spare for your bills and groceries. Find out now how much your car is worth!