izzou:


Good Good

So let's choose 24 months, and let's agree with an ideal situation

Corolla - 1.7m
Civic - 1.3m

A corolla makes 700k, while a civic makes 1.1m

So how much will be the resale value on both after two years?

Carshopper:


I beg to differ...

Every vehicle will command a resale value worth its depreciation. After resale the Corolla will still lag

Carshopper:


Yes it does.. and shows that Corolla will NEVER remain the best for the job...every car can deliver same end game results all things equal (moral of the story

Blackbishop:


I disagree on the resale value. Due you consider the market curve? In the next few months market can just switch from Corolla to another product and once people shift from it the value will be drastically reduced.. You may be begging people to buy from you sef

rationalmind:


I also beg to differ .

Vehicles don't have the same rate of depreciation.

Eizenburg:


There would be diverse opinions on this. Like I said earlier, after 2 years, if both vehicles are still in “top” shape, I think a 50% depreciation estimate should be fine

Carshopper:


Same noni... . every vehicle will command a price worth its depreciation

radautoworks:


Depreciation is a function of locale in Nigeria. To analyze depreciation in as sterile a condition as possible you should use kbb. Reason is the environment it was written assumes perfect maintenance. That will give an objective valuation without worrying about whether Dem use abro or not. You can then run the calculations with those valuations.

izzou:


That means, pegging the estimate at 850k for corolla and 650k for the civic, the civic makes 200k more

Also, we can also say that after the initial 12 months, the civic owner can afford another civic.

That's still another way to look at it

Eizenburg:


At the end of the day, to each his own. I see your valid point though.

Yope Yope

How the lockdown na?

I don manage finish the Money heist

mrjaydee:
I might be wrong, but I think the original plan for ehailing is to drive (you own the car) at your leisure time and make extra cash.

The only way to "enjoy" this uber buisness is if you own the car and you drive it yourself. There is this peace that comes with it. I have been fortunate to drive my own car and I tell you its rewarding cos
1. No pressure of 25k weekly remittance
2. You drive the car with care cos it's your own
3. You go online when you need money or bored
I can go on and on.

I dont think "in the abroad" they operate the way we do which is to give the car out for rental. I stand corrected I'm speaking from my own experience as a driver for a year plus on uber/taxify.

P.S Corrolla is not hyped, its underrated!

izzou:


Yope Yope

How the lockdown na?

I don manage finish the Money heist

Blackbishop:


I disagree on the resale value. Due you consider the market curve? In the next few months market can just switch from Corolla to another product and once people shift from it the value will be drastically reduced.. You may be begging people to buy from you sef

sexylassie2:


Your scenario happens rarely for cars, maybe for consumable product yes but cars, No.

Eizenburg:


Lockdown just dey, no biggie. The Spanish thingy put me off. Not sure I’d come around.

Lol

izzou:


Let's keep the issue of resale aside

Cost price for the tools
Corolla: 1.7 meeeellliiiooonn
Civic: 1.3 meeeellliiiooonn

Let's also assume that we have an ideal situation (Chemistry )

Every month, both makes 100k

In 2 years, they made 2.4 meeeellliiiooonn

It means the Corolla made a net of 700k, while the civic made a net of 1.1m

Like I said, considering the purchase cost in relation to Uber pricing, the Corolla is now a wrong tool for the job

mrjaydee:


You will spend more on the maintenance of a civic and at the end the civic has no second hand value.

Felicity0001:

The both cars will never and can never coupe N100k monthly for 24 months stretch not possible at all.

Down time due to mechanical faults, change of drivers and driver health.

Lockdown is another new factor to be considered in this new era.

Carshopper:



He said and I quote 'let's assume an ideal situation (chemistry)' end of quote

Babadee1900:
Unfortunately, there’s never an ‘ideal situation’ in this line of business.

izzou:


4 times a week is commendable

Carshopper:


Yes..but we are running this assumptions based on ideal situation to get a level playing field...

rationalmind:

As posted by a nairalander on another thread

Felicity0001:
Lets analyse how this pandemic, global recession and fall in prices of crude oil will affect us as uber drivers because I'm just wondering how things will look like when this recession start.

A lot of workers will lose their jobs, companies will fold up, salaries will be slashed and own for several months.

I remember the last recession, Portharcourt city was a place to be, can drivers were building houses as if they were oil workers because runs girls who were their major customers where always on the move cashing out from oil and rig workers but when the recession hit the oil sector and even our politicians couldnt afford to pay N5k for cab for runs girls again. Business people where not left out as everybody resorted to the normal N50 taxi.

So I see a difficult time coming. I pray God help us to come out alive stronger.

Blackbishop:


It happen almost frequently, I repair and sell cars so I know.

There is a particular Corolla they call o por ju owo e lo by car dealers. The first of that Corolla I sold, goes for 450,000 now you can't buy it less than 1mil again. All because of the fuel efficiency. And cheap spare parts. Is the same market value Volvo has? What about Opel products. So madam market shifts

OJURONGBE1:
Hi everyone ,it feels good to be back on this thread after 4 months absence.
Deactivated my previous account(Freshprince91) when my Ford Mondeo wanted to kill me .
It plunged me into debt and i was sad ,empty and clueless but it feels a little better now .
Missed everyone (POPE ,IZZOU ,NDUBUIS, JAYDEE ,GENTLE LIFE ,ANGRYIGBO MAN, COOLADEX, NORTHBIRD, and all the wonderful driverprenuers like Luxurydriversng usually put it)
FELICITY, Baba i appreciate your gesture last week .Anyone who's had a negative impression about this fella should perish that thought ,he's humble and kind . My friend attested to it last week. Bless you bro!

radautoworks:


You wan make shim come back abi?

Godstime234:
now I know what it means to go hungry, this lockdown don teach me a lot, please anyone that wishes to help.my ministry , please do, for the sake of my little child , I beg you. 0162594752 gtb. samuel ola. God bless

Dovehorizon:



SAMUEL OLABODE FARO... this name rings a bell and not a pleasant one.