When Sonya Fishel Lawrence saw a post online for Carvertise, she thought it was too good to be true. Carvertise is a company that pays drivers for putting advertisements on their car.
The Pennsylvania-based registered nurse was looking to boost her monthly earnings, so this passive source of income intrigued her. After looking up reviews about Carvertise, she decided to submit her application. Within a few weeks, the company put the ad on her car and she was earning money.
Car advertisements can be a great source of extra income, but the industry is rife with scams. If you’re looking for a way to get paid to advertise on your car like Sonya, here’s what to know before you sign up.
Get paid to advertise on your car
The average American spends 26 minutes commuting to work each day, according to the Population Reference Bureau. Although you can use that time rocking out to your favorite music or listening to audiobooks, you can also turn your commute into a source of income.
Companies like Carvertise will pay drivers to put advertisements on their cars. Carvertise works with local businesses to develop the ads and connect them with drivers in their target area. Once you’re approved as a driver, the company will apply colorful decals — also called wraps — to your car for a set period of time.
The longer your commute, the more you can get paid to wrap your car. The more you drive, the more exposure the businesses get, so they’re willing to pay a premium for those who cover lots of miles.
Depending on your commute, location, and the campaign, you can earn between $100 and $400 a month.
“I was paid $300: $150 after I took my car to be wrapped and the other $150 at the end of the campaign,” says Sonya.
Although car advertisements can’t replace your salary, it’s a good source of income since it requires no additional time or work from you.
What the car wrap process is like
When you sign up for a car advertisement service, the company will prompt you to enter information about your location, daily mileage, and car.
Some companies have minimum requirements you must meet. For example, Carvertise has a 25-mile daily driving minimum, and your car must be a 2005 model or newer.
Custom paints jobs or specialty finishes could make your vehicle ineligible, as that can affect how the car wrap looks. Most companies require that:
- Your car has its factory paint job
- You have a clean driving record
Once you submit your application, the company will evaluate your submission and see if you’re a good fit for an upcoming campaign. In some cases, it can take weeks or even months before you hear back.
If the company selects you for a campaign, they will contact you to let you know. Though you might not get to choose the ad that’s applied to your car, you can opt out if you find the ad inappropriate in any way.
If you decide to move forward, the company will work with you to schedule a time for a specialist to wrap your car. The decals are applied with an adhesive made especially for vehicles so that it won’t damage or scratch your paint.
The campaign can run anywhere from one to six months. After it’s complete, you make another appointment with the car company to have the decal removed.
Legitimate car advertising companies
Although you can get paid to advertise on your car, there are many scams out there. In fact, the Federal Trade Commission issued a warning in 2014 about car wrap companies scamming consumers.
Shady companies will tell you can get paid for having an advertisement on your car only if you pay a fee first. Or, they might send you a check for more than they owe you and ask you to wire them the difference. After you’ve wired the money, you’ll find that the check was a fake and you’re out the cash you sent.
Car wrap scams are prevalent, though. So it’s important to research the companies before applying or giving away any of your personal information. Legitimate companies will meet the following guidelines:
- They don’t charge a fee: Real car wrap companies don’t charge drivers an application fee. You should be earning money, not paying for the service.
- They cover the wrapping cost: Car wrap businesses cover the cost of applying and removing the car wraps. If they ask you to pay or say they’ll reimburse you, look for another company.
- They have minimum requirements: Shady companies don’t care what model your car is or if you have a bad driving record. They just want your money. Legitimate companies will ask about your car’s make, model, year, and your driving history before accepting you.
- You must have car insurance: To drive with the reputable companies, you’ll need to show proof of car insurance coverage.
- They have a customer service line: If you have questions or run into problems during a campaign, you should be able to contact the company and talk to a real person.
If you have a long commute, you can earn money just going about your daily routine. Car advertisements can be an easy way to boost your monthly income, but be careful before signing up. Make sure you research each company before sending in an application.
For more information about increasing your income, here are 10 side gigs you can start this week.
Interested in refinancing student loans?Here are the top 7 lenders of 2019!
|Lender||Variable APR||Eligible Degrees|
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1 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest fixed rate loan rates range from 3.45% APR (with Auto Pay) to 7.49% APR (with Auto Pay). Variable rate loan rates range from 2.14% APR (with Auto Pay) to 6.79% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of September 6, 2019, and are subject to change based on market conditions and borrower eligibility.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 09/06/2019. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at email@example.com, or call 888-601-2801 for more information on our student loan refinance product.
© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.
2 Important Disclosures for SoFi.
3 Important Disclosures for Laurel Road.
Laurel Road Disclosures
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the fixed rate will decrease by 0.25%, and will increase back up to the regular fixed interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
All credit products are subject to credit approval.
Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $4 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products and personal loans that help simplify lending through customized technology and personalized service. In April 2019, Laurel Road was acquired by KeyBank, one of the nation’s largest bank-based financial services companies. Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. All loans are provided by KeyBank National Association, a nationally chartered bank. Member FDIC. For more information, visit www.laurelroad.com.
4 Important Disclosures for Splash Financial.
Splash Financial Disclosures
Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers.
5 Important Disclosures for CommonBond.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 2.19% effective August 10, 2019.
6 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
7 Important Disclosures for College Ave.
College Ave Disclosures
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
1College Ave Refi Education loans are not currently available to residents of Maine.
2All rates shown include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
3$5,000 is the minimum requirement to refinance. The maximum loan amount is $300,000 for those with medical, dental, pharmacy or veterinary doctorate degrees, and $150,000 for all other undergraduate or graduate degrees.
4This informational repayment example uses typical loan terms for a refi borrower with a Full Principal & Interest Repayment and a 10-year repayment term, has a $40,000 loan and a 5.5% Annual Percentage Rate (“APR”): 120 monthly payments of $434.11 while in the repayment period, for a total amount of payments of $52,092.61. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 08/01/2019. Variable interest rates may increase after consummation.
|2.14% – 6.79%1||Undergrad & Graduate|
|2.14% – 7.71%2||Undergrad & Graduate|
|2.43% – 6.65%3||Undergrad & Graduate|
|2.43% – 7.60%4||Undergrad & Graduate|
|2.14% – 8.01%5||Undergrad & Graduate|
|2.06% – 8.93%6||Undergrad & Graduate|
|2.74% – 7.24%7||Undergrad & Graduate|