cdm4live:
I am not in Lagos. In the state I reside, a friend drove this hire purchase minibus for 1.5m.
Cost price of bus was 600k.

Wait for others to chip in too.

omotola224:
Hello my people,
I just bought my Mini bus aka korope, I have put it in a good shape to start work. Everything cost me 1.1m my question is how much can I give it out on hire purchase, how much should be paid weekly( pls note the vehicle will be plying lagos island road it's a very busy market area so I know there will always be work for the driver)

Any other tips to guide me through this whole thing will be highly appreciated.

Thank you as I await your responses.

omotola224:
Hello my people,
I just bought my Mini bus aka korope, I have put it in a good shape to start work. Everything cost me 1.1m my question is how much can I give it out on hire purchase, how much should be paid weekly( pls note the vehicle will be plying lagos island road it's a very busy market area so I know there will always be work for the driver)

Any other tips to guide me through this whole thing will be highly appreciated.

Thank you as I await your responses.

omotola224:
Hello my people,
I just bought my Mini bus aka korope, I have put it in a good shape to start work. Everything cost me 1.1m my question is how much can I give it out on hire purchase, how much should be paid weekly( pls note the vehicle will be plying lagos island road it's a very busy market area so I know there will always be work for the driver)

Any other tips to guide me through this whole thing will be highly appreciated.

Thank you as I await your responses.

dbestuncle:
Don't you think that you already over spent on it. Make u look at daily pay. The rider gives u money daily but doesn't own the vehicle.

CsRockefeller:


Details are scanty.

What make of bus?
How may seater/spaces?
What do you mean by Lagos Island route? Be specific.

peteruuu:


Don't you think you've invested 'too much' on the purchase of the vehicle?

Are you willing to give it out on hire purchase or you want the driver to pay you weekly?

I'll suggest you give it out on hire purchase...by that, you may give it out at the rate of 1.5m.

You make agreement with the driver and his two(2) guarantors..

You'll mandate him to be paying a certain amount every week.

NB: The price must be a fixed price. Tell him anyday he fails, you'll take it from him abd let him sign the agreement.


By the way, I'm into motorcycle (okada) business here in Ilorin, Kwara state.

I'll buy a new motorcycle (BOXER/BAJAJ) at the rate of 235k and give it out at the rate of 410-420k on hire purchase.

It's very lucrative here.

One must be very sharp and be a no-nonsense-man sha o, else, dem go wan use you shine ni.


Goodluck to you...

I hope I helped a bit...

omotola224:

Suzuki
7 seater bus
Idumota area lagos island

omotola224:

1.5m is too small even napep that I bought 700k I gave it out for 1.1m.
1.5m cant work

omotola224:
Hello my people,
I just bought my Mini bus aka korope, I have put it in a good shape to start work. Everything cost me 1.1m my question is how much can I give it out on hire purchase, how much should be paid weekly( pls note the vehicle will be plying lagos island road it's a very busy market area so I know there will always be work for the driver)

Any other tips to guide me through this whole thing will be highly appreciated.

Thank you as I await your responses.

CsRockefeller:


Okay. Still not clear on the route. Idumota all tru to where? Is it to Oyingbo, Yaba and back?

If so from Idumota to Oyingbo is N100, Oyingbo to Yaba is N100. So the driver makes N700 for the first stop and another N700 to Yaba summing it to N1400.

He will probably take an hour to load and complete one trip (Yaba). If he works 12 hrs a day, he can make 8 complete trips (allowance given for low passengers periods and other unexpected contingencies)

8 multiply by N1400 gives you N11,200. Less Fuel purchase of N3k a day leaves you with 8k.

In a week that's 56k, in a month N224,000.

If based on agreement, you decide to give the driver and conductor a 50% of profit, that would leave you with about a 100k every month.

This is d LEAST you must collect. That's if the routes I earlier mentioned is in consonance with yours.

peteruuu:


Okay... Can you make it 1.9 to 2m?

SavageResponse:


Don't you think you should have asked this question first before going to invest in the minibus?

codedlee:
I actually need a mini bus for my bakery business to boost sales. DM if you want to put it on hire purchase

09098186899 WhatsApp only

omotola224:


Thanks just asked drivers around the axis I want to play. This is the amount they said they drop it for them on hire purchase

peteruuu:


Good then.

Just be very careful and smarter than them pls.

My saving grace last December was because I'm very close to an influential man in the state here..

I don't want to say much...but at the end if the whole thing, both the police officers and my riders that connived together were sorry for themselves.
Wow! This life sha. I will be very careful. Thanks

They thought I wasn't smart at all, but I was way too smarter than them

peteruuu:


Good then.

Just be very careful and smarter than them pls.

My saving grace last December was because I'm very close to an influential man in the state here..

I don't want to say much...but at the end if the whole thing, both the police officers and my riders that connived together were sorry for themselves.

They thought I wasn't smart at all, but I was way too smarter than them

omotola224:
Hello my people,
I just bought my Mini bus aka korope, I have put it in a good shape to start work. Everything cost me 1.1m my question is how much can I give it out on hire purchase, how much should be paid weekly( pls note the vehicle will be plying lagos island road it's a very busy market area so I know there will always be work for the driver)

Any other tips to guide me through this whole thing will be highly appreciated.

Thank you as I await your responses.

CsRockefeller:


Okay. Still not clear on the route. Idumota all tru to where? Is it to Oyingbo, Yaba and back?

If so from Idumota to Oyingbo is N100, Oyingbo to Yaba is N100. So the driver makes N700 for the first stop and another N700 to Yaba summing it to N1400.

He will probably take an hour to load and complete one trip (Yaba). If he works 12 hrs a day, he can make 8 complete trips (allowance given for low passengers periods and other unexpected contingencies)

8 multiply by N1400 gives you N11,200. Less Fuel purchase of N3k a day leaves you with 8k.

In a week that's 56k, in a month N224,000.

If based on agreement, you decide to give the driver and conductor a 50% of profit, that would leave you with about a 100k every month.

This is d LEAST you must collect. That's if the routes I earlier mentioned is in consonance with yours.

omotola224:
Hello my people,
I just bought my Mini bus aka korope, I have put it in a good shape to start work. Everything cost me 1.1m my question is how much can I give it out on hire purchase, how much should be paid weekly( pls note the vehicle will be plying lagos island road it's a very busy market area so I know there will always be work for the driver)

Any other tips to guide me through this whole thing will be highly appreciated.

Thank you as I await your responses.

codedlee:
I actually need a mini bus for my bakery business to boost sales. DM if you want to put it on hire purchase

09098186899 WhatsApp only

cdm4live:
I am not in Lagos. In the state I reside, a friend drove this hire purchase minibus for 1.5m.
Cost price of bus was 600k.

Wait for others to chip in too.

CruzJoe:


pls which state is that, you reside? Am curious,you said the cost price is 600k.

this 1.5m is it for how long maximum to finish paying for it.
this 600k..is it for a very sound coupled one ready to hit the road?