I recently consulted for an auto loan and one gave me this condition:
N56,800 weekly for the first 2 months
The rest is N45k for 4 yrs
Initial N113k deposit
BVN

Weekly KPI(which I don't understand)
45hrs online every week
60 trips


My question
Can a newbie deliver?
I am about to quit my work for it.
Location is Lagos

Toyota Corolla or Camry of 2005/2006

U will be working as a slave for that company, I doubt if u can make ends meet. Cost of car has almost doubled. My advice DONT DO IT

Hmmm… 🤔

Two years no be child’s play o.


To constantly be under pressure to deliver.


Me I will pass!

brain54:
Hmmm… 🤔

Two years no be child’s play o.


To constantly be under pressure to deliver.


Me I will pass!

It was a mistake. It is even 4 years.

baconline:
U will be working as a slave for that company, I doubt if u can make ends meet. The cost of the car has almost doubled. My advice DONT DO IT

Your advice is taken but the problem is if one does not see other options what to do remains a problem.

Nwanna2588:
I recently consulted for an auto loan and one gave me this condition:
N56,800 weekly for the first 2 months
The rest is N45k for 4 yrs
Initial N113k deposit
BVN

Weekly KPI(which I don't understand)
45hrs online every week
60 tripsi


My question
Can a newbie deliver?
I am about to quit my work for it.
Location is Lagos

Toyota Corolla or Camry of 2005/2006

Please, folks, I need a plurality of opinions.

Nwanna2588:
It was a mistake. It is even 4 years.

I could never take such a deal…

Nwanna2588:

Your advice is taken but the problem is if and do not see other options what to do remains a problem.

Other options will come…


Don’t go and sign your slave contract for lack of options.

Is the car even insured? You can drive that car for 2 months and ANYTHING can happen to it. Including theft of engine problems or whatever.

What happens then? Not trying to discourage you o. But other options will come.

Be patient!

Nwanna2588:
I recently consulted for an auto loan and one gave me this condition:
N56,800 weekly for the first 2 months
The rest is N45k for 4 yrs
Initial N113k deposit
BVN

Weekly KPI(which I don't understand)
45hrs online every week
60 trips


My question
Can a newbie deliver?
I am about to quit my work for it.
Location is Lagos

Toyota Corolla or Camry of 2005/2006

Don't you people sit down and calculate things, you are looking at the short run and not the long run.

We have 52 weeks in a year, say you work 40 weeks throughout the year.

45,000 x 40 = 1,800,000 multiply by 4 years 7,200,000.

Cost of vehicle is around 3.6million meaning in 2 years time you would have paid back the cost of the vehicle and another 2 years for additional profit of 100%

It is a bad idea to collect loan to start a business of uncertainty where you have no control of external forces and most especially fare price.

When working as a salary earner b4 u leave current job ensure you have saved enough to start your own small business, with 1.2m you can buy a kia Rio, honda civic or nissan sentra/primera of 2006 upwards for 800k to 1m, use 200 to 400k to put in order and use it to test waters of the business.

nurey:


Don't you people sit down and calculate things, you are looking at the short run and not the long run.

We have 52 weeks in a year, say you work 40 weeks throughout the year.

45,000 x 40 = 1,800,000 multiply by 4 years 7,200,000.

Cost of vehicle is around 3.6million meaning in 2 years time you would have paid back the cost of the vehicle and another 2 years for additional profit of 100%

It is a bad idea to collect loan to start a business of uncertainty where you have no control of external forces and most especially fare price.

When working as a salary earner b4 u leave current job ensure you have saved enough to start your own small business, with 1.2m you can buy a kia Rio, honda civic or nissan sentra/primera of 2006 upwards for 800k to 1m, use 200 to 400k to put in order and use it to test waters of the business.

He will tell you…

he has run out of options now.

Because of that he will open his eyes and put his hands inside fire.

Some people self!

Shatap there,like say he go dey see profit everyday. Odeh. So he wont service the car,run into miscellaneous, na on top sky he go dey drive,he wont fuel the car,na telsa ba. Odeh

nurey:


Don't you people sit down and calculate things, you are looking at the short run and not the long run.

We have 52 weeks in a year, say you work 40 weeks throughout the year.

45,000 x 40 = 1,800,000 multiply by 4 years 7,200,000.

Cost of vehicle is around 3.6million meaning in 2 years time you would have paid back the cost of the vehicle and another 2 years for additional profit of 100%

It is a bad idea to collect loan to start a business of uncertainty where you have no control of external forces and most especially fare price.

When working as a salary earner b4 u leave current job ensure you have saved enough to start your own small business, with 1.2m you can buy a kia Rio, honda civic or nissan sentra/primera of 2006 upwards for 800k to 1m, use 200 to 400k to put in order and use it to test waters of the business.

Angrygoat:
Shatap there,like say he go dey see profit everyday. Odeh. So he wont service the car,run into miscellaneous, na on top sky he go dey drive,he wont fuel the car,na telsa ba. Odeh

A fool @ 40 that you are, makes you are fool forever, now read my submission, this time around slowly and 10 times so you can assimilate

This is why I said I need a plurality of opinions. I am learning a lot.

How much is the total amount you're paying for the car?
Because what I saw in my calculation is outrageous, maybe my calculator is malfunctioning, how much is the total amount?

OP, first, KPI means key performance index. Basically, the targets you must meet per week.

Before I go into the mathematics, let me say that add 4 years to your age now. Do you want to keep doing this that long? The company is telling you to be driving every week for 45hrs. That's 5 hours more than a normal 40 hour workweek. What if you get sick? What if you have a personal/family emergency? How will you meet up?

I also hope you know that if you default in delivery, the car will be taken from you and all you've paid up till that point will be forfeit?

Now for the mathematics;

The cars you mentioned, last last their price is not more than 4m.

So, 56800 weekly for two months runs into 454,400. Plus 113000 initial deposit takes you to 567,400.

Now, 45k weekly for 4 years means 8,640,000.

Add this to the figure above, and you have a grand total of 9,207,400.

Oh my God. If you take this deal, you're signing up for auto slavery. You'll be paying 9.2m for a car of 4m, more than double the price of the car.

Will the car remain the same over 4 years? No wear and tear? No occasional run-in with the law? No fueling? No maintenance? Hmm.

OP, I don't know you o, but if you were to be my friend or my brother, I'd tell you the same thing; this is a weapon fashioned against you, and if you decide to allow it, it will prosper and fast-forward you into poverty.

You have a job currently. Focus on that and maybe put money together to learn a high paying skill, so you can give yourself a better prospect than considering willfully signing away 4 years of your life for some auto company that will be having a laugh at your expense.

A word, they say, is enough for the wise. Or in this case, a lot of words.

Ive always known tou to be daft,you are so idle that u have all the time to keep jumping from thread to thread. You are a certified kazeem lovong on the slums,still paying rent.and god help u anyday we meet,you would be dead. I can guarantee u that. Stupid jobless kazeem hahahaha. E pain am die. Oponu

nurey:


A fool @ 40 that you are, makes you are fool forever, now read my submission, this time around slowly and 10 times so you can assimilate

Can we stop trading words. Please

Angrygoat:
Ive always known tou to be daft,you are so idle that u have all the time to keep jumping from thread to thread. You are a certified kazeem lovong on the slums,still paying rent.and god help u anyday we meet,you would be dead. I can guarantee u that. Stupid jobless kazeem hahahaha. E pain am die. Oponu

Yes I am idle because I don't work for money, money works for me.

No crime in being a kazeem, living in slum and paying rent. Lagos is the slum capital of the world and people still make it there.

Nobody has a monopoly of violence, remember don't point a gun at someone if you aren't ready to pull the trigger

nurey:


Don't you people sit down and calculate things, you are looking at the short run and not the long run.

We have 52 weeks in a year, say you work 40 weeks throughout the year.

45,000 x 40 = 1,800,000 multiply by 4 years 7,200,000.

Cost of vehicle is around 3.6million meaning in 2 years time you would have paid back the cost of the vehicle and another 2 years for additional profit of 100%

It is a bad idea to collect loan to start a business of uncertainty where you have no control of external forces and most especially fare price.

When working as a salary earner b4 u leave current job ensure you have saved enough to start your own small business, with 1.2m you can buy a kia Rio, honda civic or nissan sentra/primera of 2006 upwards for 800k to 1m, use 200 to 400k to put in order and use it to test waters of the business.

My own is that I'm still looking for Honda Civic of 1.2 abeg

yak:



My own is that I'm still looking for Honda Civic of 1.2 abeg

I don't give out cars nor facilitate loans