tojahh:



If this is your focus then you're not being a shrewd businessman like you claim. Whatever your 7m naira car can do for ehailing. A 3.5m car will do it exactly all things being equal. So why invest 7m and breathe on drivers neck to rush in your stake when you can as well stay true to reality and get your stake quicker and faster?

Sodiki

Pearl1910:


You are making the points but not coming to d best conclusion. With these few points of urs u should conclude it is better to spend the least amount possible to purchasing a car rather than go for an expensive car. So that u can get back ur investment and start making profit in good time .

Secondly, people tend to forget that ur car is a tangible capital, it's not like rent or recurring costs... U can chose to sell it and make back mur money, a fraction of it or even more. Therefore all the rentals u have been collecting is basically ur profits.

Djdamian:


My brother, I’ve looked into the car market recently, and I can tell you that finding a good Naija-used car for 3.5 million is nothing but a fairy tale these days.

A sound car now goes for 4 million and above—no jokes at all.

XGhost:


I think you're referring to Toyotas.
There's more to e-hailing than the Toyota Corolla o

Djdamian:


Even the corolla is now above 4.7m now.

Referring to civics and the likes.

It's well noted. Was just asking some questions that's all

tojahh:



Make we drop aza?

Pearl1910:


Amen...
I think say u wan say make we show for Eko Atlantic make u lodge us cos u just got back. 😁

Pearl1910:


See, most times renters earn more than car owners.
Car owner is responsible for repairs and maintenance while a Renter will call his partner to send money for repairs.
Except u are blessed with a car that will not give u a single issue month in month out.

Djdamian:


Not everyone you meet online is uninformed. I didn’t get to where I am today by simply saving money in the bank. I have other ventures that can triple my earnings in a year. Just because I’m asking questions based on some comments here doesn’t mean I don’t know how to manage or invest money.

For an investor, it’s about turnover, and it seems that point is often overlooked. How many years would it take me to recover my capital of 7 million naira if I’m being paid 65k weekly? Three years?

Many people assume, “the investor just collects money while the driver does the work,” without considering the risks involved. Within those three years, inflation could devalue the investment, the car could be impounded, accidents could occur, or even natural disasters could strike. These are critical factors that must be accounted for. Who suffers? ,Driver using the car to make money or the person who invested his hard earned money buying the car in the first place?

Gentlelife50:


So una no dey get radicals for the lord in your congregation?
No be everybody be preacher of peace ooo

pope191:


You do business law.

Shimmaa:


@Djdamian



Inflation shouldn't be any reason to demand a huge return, if inflation comes into play in your investment, that should be applied to the car and not the return...

For instance, they sell cars in 2018 for 1.4m as foreign used, someone who bought a car in 2018 for 1.4m will not sell that car same amount in 2024...


Your car retains it's value, and inflation actually benefits it, meaning returns you have been getting on the car represents your profit while your capital still retains its value or a little less than...

tojahh:



Pope191 make I no dance naked for you o. Sholly say make you send am to my Opay. I don drop am for Dee Hem

Pearl1910:


Agha... Who is this guy?
u deserve a drink abeg. Where are u based? Let's hook up. I just they trip for ur brain

shollywendy1:

If you see Pope, abeg seize him car key if he no deliver my message to you. 🤪

shollywendy1:
A calvary greeting to everyone oooo.

I dey ground like this dey greet una ooo.
Pope, tojah, pearl, gentlelife, cheerfulgiver and others that time will not permit me to mention their names that are still successfully earning on the road.

God bless your existence with favour, unlimited blessings, upliftment, comfort, sound health, long life and prosperity in Jesus name.

I dey waka pass and say make I greet una ni oo

Djdamian:


Here’s what I meant: In my opinion, this business primarily benefits drivers. Hire purchase seems like the only viable option, but it comes with its challenges. First, you need a car suitable for such an arrangement, and with the current high prices of vehicles, coupled with the 2-3 year period to recoup your capital, it doesn’t seem worth it. Second, finding a reliable driver who is mentally and emotionally stable is crucial—and very difficult.

Leasing, based on experience, is the worst option. The vehicle often ends up poorly handled unless you personally monitor it, and doing so can earn you the reputation of being overly controlling.

However, if the person intends to drive the vehicle themselves, then it’s a no-brainer—they should go for it. The e-hailing business is still lucrative for drivers, though not as appealing for investors at the moment.


Just my humble opinion

Djdamian:


If I were to venture into this business again, I wouldn’t consider buying a scrap car from Jiji for 2-3 million, as I’ve tried that before, and it didn’t turn out well.

However, if someone can guarantee me a weekly remittance of 150k, I’d definitely invest in a tokunbo Corolla.

tojahh:



I go tell for you . I know say this bear bear wey them allow na dey give una courage to go radical.

Djdamian:


From the discussions here, it seems that drivers are earning an average net income of 800k to 1 million. So I think they are doing pretty well for themselves.

mejai:
Tojahh, dapotemi and Gentlelife50, there will be elders and M.S meeting concerning u guys. Especially Dapotemi that should be refreshing his convention spiritual food. 🏃🏃

YeyeGbami:
JSYK

pope191:


Tojahh pope, not pope191. Please understand this. Thank you!

Itsrm:
Insightful contribution all round. This is why some of us cannot leave this thread.

pope191:


Laff won to finish me here… una sabi meaning of inflation and purchasing power so?

Djdamian:


Not everyone you meet online is uninformed. I didn’t get to where I am today by simply saving money in the bank. I have other ventures that can triple my earnings in a year. Just because I’m asking questions based on some comments here doesn’t mean I don’t know how to manage or invest money.

For an investor, it’s about turnover, and it seems that point is often overlooked. How many years would it take me to recover my capital of 7 million naira if I’m being paid 65k weekly? Three years?

Many people assume, “the investor just collects money while the driver does the work,” without considering the risks involved. Within those three years, inflation could devalue the investment, the car could be impounded, accidents could occur, or even natural disasters could strike. These are critical factors that must be accounted for. Who suffers? ,Driver using the car to make money or the person who invested his hard earned money buying the car in the first place?

pope191:


Laff won to finish me here… una sabi meaning of inflation and purchasing power so?

Pearl1910:


STFU... He is doing better than u.
I don't know ur black ass, but I know it's dirty and poor. The person u are quoting is an importer and can feed ur generation and pay u a living wage.

mejai:
Tojahh, dapotemi and Gentlelife50, there will be elders and M.S meeting concerning u guys. Especially Dapotemi that should be refreshing his convention spiritual food. 🏃🏃

Pearl1910:


Agha... Who is this guy?
u deserve a drink abeg. Where are u based? Let's hook up. I just they trip for ur brain