I’ve heard that many people opt to sell their cars after investing in a Vamos electric bike. I chose to keep mine and rent it out. By that I’m creating an additional passive income stream I couldn’t live without!
Dive in and let me tell you how I do it!
Seamless Living in A Busy City with An E-Bike
My daily routine, involving remote work and residing on Sydney’s Northern Beaches, requires frequent trips to various places such as beaches, shops, restaurants, and bars.
All of this has now become seamless and economically viable thanks to my reliable Diablo Vamos bike. This electric bike is not only more cost-effective but also faster than using a car. I don’t have to grapple with finding car parking in the city.
I often choose to bike to the Sydney CBD to meet up with friends. I simply take my bike on the ferry during these journeys. A method that proves highly convenient and significantly more cost-effective.
My car is essentially only used when I need to travel up and down the coast. Otherwise, it sits unused.
So why not let others benefit from it when I’m not using it?
How Do I Rent My Van?
When I’m not using my van I simply go through Camplify and list my van. Then others can use it and enjoy it while I’m not using it.
Through Camplify, my van generates around $150 per day, translating to over $1k per week. Camplify does also offer insurance for the vehicle, and so far, the car has always been returned in perfect condition.
If I plan to go away, I can easily specify that my vehicle is not available during those periods.
The Amigo Bike Investment for a Profitable and Efficient Future
In the future I plan to make a forward-looking investment in the Amigo bike, serving as a complete replacement for the car.
The Amigo is a versatile bike and stands out for its impressive carrying capacity of 150-170 kg+. This feature not only allows for the effortless transportation of my girlfriend, surfing equipment, and groceries but also positions it as a versatile asset for various needs.
The brilliance of this investment expands further. Envisioning a scenario where both my girlfriend and I could potentially rent out our respective vehicles. By sharing the Amigo, we unlock a new level of efficiency in our transportation solutions.
With calculations, I anticipate recouping my initial investment in a mere two months post-purchase. This transformative decision ensures that any subsequent earnings from renting out my car become pure profit.
The Amigo investment not only promises convenience and versatility but stands as a solid financial move, making it a strategic and profitable addition to my lifestyle.
No Need for Laying Down the Full Capital
Vamos also offers a few “pay it off” options like Zippay, where the earnings from van rental more than offset the payment plan. This would be advantageous if I didn’t have the capital available immediately.
Overall, I am now experiencing financial gain from something that would otherwise just sit unused, while fulfilling my transportation needs more cost-effectively, faster, easier, and more enjoyable.
I rarely have to worry about the financial burden of filling up a whole tank of gas to navigate through the congested streets of Sydney.
What a win!
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