₦airaland Forum

izzou:
[color=royalblue]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?[/color]

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:
I beg to differ...

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

I also beg to differ .

Vehicles don't have the same rate of depreciation.

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

I’ve always been against the corolla mentality. It all boils down to use and maintenance IMO.

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

That's why I said, all things being equal. Once you start introducing variables like that, things become very complicated.

rationalmind:
I also beg to differ .

Vehicles don't have the same rate of depreciation.

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

[color=royalblue]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[/color]

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

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.

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.

Then that's what we shall use

izzou:
[color=royalblue]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[/color]

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

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

[color=royalblue]Yope Yope

How the lockdown na?

I don manage finish the Money heist[/color]

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!

This is one thing about Nigeria and nigerians, we take things out of proportion.

The white man comes up with an idea believing the sky is its limit only for a Nigerian to come onboard and sky rocket it making the sky the starting point. How interesting.

These are some of d reasons most riders don't respect drivers, "after all he's just a uber driver" doesnt deserve any respect, they dont know most dricers are calabardick in disguise.

Anyways. Like they say, na condition make crayfish tale bend. If there jobs with good business atmosphere in the country ehailing would have been serving the right purpose it was meant for in Nigeria like overseas.

izzou:
[color=royalblue]Yope Yope

How the lockdown na?

I don manage finish the Money heist[/color]

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

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

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

https://www.nairaland.com/5770914/mechanic-roundtable/1#88705563

Follow us on our page for more tomorrow.

Thanks

B-Automobile Nigeria Limited

sexylassie2:
Your scenario happens rarely for cars, maybe for consumable product yes but cars, No.

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

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

[color=royalblue]Lol

[/color]

izzou:
[color=royalblue]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[/color]

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.

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

Absolutely true.

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.

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

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

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

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

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

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.

izzou:
[color=royalblue]4 times a week is commendable[/color]

I thought as much.
Thanks

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

I understand

Thanks.

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.

Good point of view!

Shall we talk on this too please?

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

Nope, Volvo is way better of course.

Argue with your keyboard

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!

Glad to have you back bro.

[quote author=AngryIgboMan post=88638648][/quote]Isaiah 43

8 Remember ye not the former things, neither consider the things of old.

19 Behold, I will do a new thing; now it shall spring forth; shall ye not know it? I will even make a way in the wilderness, and rivers in the desert.

You will surely recover the years the caterpillars and the locusts have eaten. When there's life, ultimately there's hope. Cheer up sir! Do not allow the burdens of life to weigh you down. You will recover all.

radautoworks:
You wan make shim come back abi?

This "shim" got me thinking at first. Thought it was a Chinese/Asian name....Shim Ju Un. Buttressed by the meme you uploaded.


Pls let's have some decorum

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

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

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

Not pleasant atall....Baba Dove I hail ooo