thebigkendo:


Yeah.. That our uncle abi?

dru23:
This is only for motivational purpose alone.. Just got a new baby... 2003 civic for uber will be landing in July or so ..

tojahh:


If you have a civic or Elantra for sale. I'm quite interested sir.

dru23:


I just sold tokunbo 04 civic, but I have a tokunbo elantra 08 for sale

Amono:


Ehailing business is dead and buried when it comes to 3rd parties. Only owner drivers will survive the current slash of fares, and the fares will drop further until owner drivers can barely meet minimum wage per month. The Ehailing companies are capitalists, it's all about profits, there will be no room for people like you in a few weeks time as rental will fall to 20k soon.

You also picked vehicles with very poor 2ndhand value, so even cashing out of the system will be very hard for you. The elantra and civic cannot be sold for more than 400-500k the guys who bought corrolas were smart, at least they can sell for 1.2-1.4m depending on how clean they still are.

You need to re-think your strategy as you are yet to make profit after 2years.

There is no motivation in investing in a business that yields no profits.

dru23:


The business is not for everyone o .. When I first started, I had a manager.. Everyday car go it issue ,the manager will remit money tday ,next week he will collect it back in forms of repairs etc .. We found out that the manager was stealing from us, he was lying about this and that .. We even got police involved. He condemned one of my cars. He was using Mobil XHP oil instead of the recommended oil .. My cars had oil sludge, had to change engine and even sold most of them ..the manager was eating well from us ,the guy chop money serious one. But he didn't use it to better himself.. For the Police to be involve ,it shows the case was a serious one ..
The changing point started ,when we took over the business, obviously we sack the manager.. I sold all my cars and started from scratch again. I bought new cars like elantras and Honda civic, hire drivers ourselves and was lucky to have met a new mechanic.. The new mechanic was great, and he did well fixing my cars .. I started to import my own oil Mobil 1 oil and was hands on with the business.. I realise that my cars were no longer breaking down, and was doing inspection every two weeks.. Everything changed completely when I took over the business .. And I was more encourage to continue.. And from day one I never used corolla for the business, the landing cost and time it takes to recoup is longer .. Than also my civic that I had also did well ..never had issues with it .. So than I started to buy civic 03 to 05 .. My drivers loved it and my landing cost was fantastic.. .. So I try to teach people on the forum my experience and ways for them to adapt to the market environment.. Some did and some didn't.. But till today people are still buying corolla up and down.. A lot of business fail due to the fact that people fail to adapt .. So again this business is not for everyone, if you can think outside the box, you will do fine ..
Ps .. The issues I had with my previous manager ,I didn't have none of it when I took over the business.. It was a surprise to me .. Money was coming and things were getting done. I was shocked and surprise.. At the end of the day if you want to succeed in any business, u have to be hands on. If you think u can give ur business out or leave it for somebody, than you are not ready to be a business man or woman. That person should just stick to 9 to 5 job

lekbel09:
ogbeni motivate yourself abeg, the business is going down fast the influx of people into it is alarming, don't paint a picture of a bed full of roses for people

tojahh:



Can I see pictures?

dru23:


Send me your email for further talks

adanny01:


A toks 2003 Corolla cost 1.8-2m and a 2nd hand value of 1.2-1.4 with a value drop of 400-800k

A toks 2003 Civic cost 1-1.2m and a second hand value of 400-600k with a value drop of 400-800k.

Tell me whats the difference? You Corolla guys cannot be objective for reasons best known to you guys. You think Corolla is the best but other far less expensive cars can be as profitable and require less capital at the same time.

A toks 2003 camry is 1.5-1.6 while a smaller 2003 corolla is 1.8-2m. An accord is 1.4-1.5 toks while Civic is 1-1.2. Cant you see that Corolla is a over priced car and is a waste of monetary value.

adanny01:


A toks 2003 Corolla cost 1.8-2m and a 2nd hand value of 1.2-1.4 with a value drop of 400-800k

A toks 2003 Civic cost 1-1.2m and a second hand value of 400-600k with a value drop of 400-800k.

Tell me whats the difference? You Corolla guys cannot be objective for reasons best known to you guys. You think Corolla is the best but other far less expensive cars can be as profitable and require less capital at the same time.

A toks 2003 camry is 1.5-1.6 while a smaller 2003 corolla is 1.8-2m. An accord is 1.4-1.5 toks while Civic is 1-1.2. Cant you see that Corolla is a over priced car and is a waste of monetary value.

thebigkendo:


Wish i can like 100x... They believe any car sold second hand for less than 1m.. Has poor resale value, irrespective of purchase price

Abeg who see The.Car

adanny01:


A toks 2003 Corolla cost 1.8-2m and a 2nd hand value of 1.2-1.4 with a value drop of 400-800k

A toks 2003 Civic cost 1-1.2m and a second hand value of 400-600k with a value drop of 400-800k.

Tell me whats the difference? You Corolla guys cannot be objective for reasons best known to you guys. You think Corolla is the best but other far less expensive cars can be as profitable and require less capital at the same time.

A toks 2003 camry is 1.5-1.6 while a smaller 2003 corolla is 1.8-2m. An accord is 1.4-1.5 toks while Civic is 1-1.2. Cant you see that Corolla is a over priced car and is a waste of monetary value.

TheCar:


Na wa oooo. Someone cannot use Corolla in peace again.

Must Toyota Corolla be compared to very vehicle on planet earth.

Maybe it is time to upgrade to Range Rover

thebigkendo:


Atleast your corolla has "great" second hand value

The "great" second hand value should get a second hand Range Rover since they has a "poor" second hand value

TheCar:


You have a good point but you missed a vital "CLUE". The person you replied didn't buy a Corolla or use a Corolla.

He said and I qoute "the guys who bought corrolas were smart, at least they can sell for 1.2-1.4m depending on how clean they still are." So why launch an attack on Corolla people?

The law of supply and demand is a theory that explains the interaction between the sellers of a resource (Corolla) and the buyers for that resource (Corolla). The theory defines how the relationship between the availability of a particular product and the desire (or demand) for that product has on its price. Generally, low supply and high demand increase price and vice versa.


Corolla is over-priced because the demand exceed supply and to think it is a waste of monetary value, is throwing objectivity out of your argument. We need to ask the person, who is ready to buy a 2003 Corolla at a higher price when other alternatives are far cheaper. Even the "Luxurious Camry" is cheaper than Corolla which is might to be vice versa.

Kudos

adanny01:


My post is based on the statement, "the guys who bought the Corolla were smart" not because he bought a Corolla or not. For making that statement, he is a Corolla guy which i refered to him as one.

My post in summary says that his statement is incorrect. Infact, i mean the direct opposite, "the guys who bought the Civic are smart". They are smart because they get to start a business with 1-1.2m while a Corolla guy would need 1.8-2m to start the same Uber business and make the same money. At the end the Civic guy would make the same money as the Corolla guy. What they get when they eventually sell out is value for their property and not profit from the business, it doesnt count as a smart decision.

Look at it this way, the person who bought the Corolla has effectively tied down an extra 600k-1m for nothing or just to cash out on second hand value even though both cars will lose same value.

Imagine if you get a Civic at 1m and a corolla at 2m, if given the same amount the Civic guy would have bought 2 civics for the price of 1 Corolla while the civic guy earns twice what a Corolla guy would make. This is to buttress the fact that Corolla guys are far from smart, infact i would say a dumb decision.

Imagine using 2m with corolla to make 35k a week or using 2m with a civic to make 70k a week!

HeavenlyBang:
Corollas are the worst fookin cars on Earth. They aren't bad machines but I totally despise what they stand for.

TheCar:


You are right, if 2m would get you 2 Honda Civic and double your weekly rental collection, insisting on buying a Corolla instead of 2 civics is a terrible investment decision.

What a lot of people don't know or realize is that to an extent Honda Civic is more economically fuel efficient than Corolla and when it comes to Uber & Taxify (BOLT) fuel economy is KING.

Although some believe you won't get more "Offline" trips which is a major cash cow for many uber/taxify drivers, but as an investor (Car Owner), it makes perfect sense business wise to get 2 for the price of 1.

However, some other factors like maintenance and aging gracefully might be where Honda Civic comes short. Also Honda Civic is a Collateral Damage for the mistake of "LEG PULL" in Honda Accords.

If people make personal due diligence research before buying a car, I am very sure demand for Corolla would dropped so also the price. But we are in Nigeria, where eventually "Everbody" except Thebigkendo want to drive a Corolla and also were public perception is key.

Yes, Corolla is "PURE WATER" on the street of Lagos. 2 or 3 out of every 5-7 cars on Lagos road is a Corolla. Despite the downsides like stealing, theft of brainbox, over-inflated price etc, people still want it to the extent we have THE MEXICANS, ARABS, & ACCORDS (thebigkendo) abuse Corollas or BCD bringing in abused Corollas to be sold at high price.

Maybe one day, people would realize there are other options and take them but as at the moment, The craze for Corollas is like Codeine Diet.

GAZZUZZ:


same with nissans/quest's

HeavenlyBang:


What are you talking about? Nissans are the best cars on Earth. God's gift to mankind.

a pipe dream

GAZZUZZ:


a pipe dream

GAZZUZZ:
Corrola is one of very few cars that will tolerate extreme abuse and still perform almost optimally.

The civic has a timing belt, which means it will require a change every 50,000miles. For a car that does 5000miles in 6weeks you will change timing belt every year. Next that car is plagued with the camshaft crankshaft madness, when it happens, you are at the mercy of a toks replacement, as I am yet to come across a shop. That sells new parts.

Meanwhile the corolla uses a timing chain that usually lasts the lifetime of the engine.

HeavenlyBang:
Corollas are the worst fookin cars on Earth. They aren't bad machines but I totally despise what they stand for.

GAZZUZZ:
Corrola is one of very few cars that will tolerate extreme abuse and still perform almost optimally.

The civic has a timing belt, which means it will require a change every 50,000miles. For a car that does 5000miles in 6weeks you will change timing belt every year. Next that car is plagued with the camshaft crankshaft madness, when it happens, you are at the mercy of a toks replacement, as I am yet to come across a shop. That sells new parts.

Meanwhile the corolla uses a timing chain that usually lasts the lifetime of the engine.

dicksonadams:


Does this also affect 2008 honda civic?

dicksonadams:


Does this also affect 2008 honda civic?

captainking:

I just googled it. It does not affect 2006 to 2011 civic cos they use timing chain..

That car is an engineering mistake. Very annoying design who does that?