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Leasing a car to a Cab company- Pros n cons?
smith01
#1 Posted : Thursday, April 14, 2011 4:41:01 PM
Rank: Member


Joined: 8/5/2010
Posts: 161
Hi Good people,

I am thinking of buying a car(partially loaned) and leasing it to a cab company. Anyone with insights or prior experience in this? Which is the best cab company to work with?

Please help.
christian
#2 Posted : Thursday, April 14, 2011 9:09:43 PM
Rank: Member


Joined: 6/2/2009
Posts: 31
Smith,

My advice is tread very carefully on this one..... I had thought of going down that route, but heard from friends and also relatives on how they would get ripped off by cab companies (they don't pay on time or don't pay at all, it's also your responsibility to service and repair the car after the (reckless) drivers have malizad it in just under 2 or 3 months).

I decided not to go that way..... But that's my kidogo insight.
smith01
#3 Posted : Friday, April 15, 2011 8:47:03 AM
Rank: Member


Joined: 8/5/2010
Posts: 161
Thanks Christian.

I have been told about having to service and repair the car by myself. I have not visited any cab company yet but I am being directed to Pewin.My whole idea is starting an income generating project that isn't so involving.
Gathige
#4 Posted : Friday, April 15, 2011 8:57:24 AM
Rank: Elder


Joined: 3/29/2011
Posts: 2,242
smith01, I have friends who own that kind of cab companies and others working in similar companies as drivers. My 2 cents worth of advice is unless you know a particular company where to take your car be very careful before you venture especially that you will be partially loaned. Worse still some companies hire out vehicles as self-drives and majority of the self-drives clients are either novice drivers or people with cars but do not want to drive own cars to places with bad roads so they hire cars and spare theirs!
"Things that matter most must never be at the mercy of things that matter least." Goethe
smith01
#5 Posted : Friday, April 15, 2011 10:10:15 AM
Rank: Member


Joined: 8/5/2010
Posts: 161
Gathige wrote:
smith01, I have friends who own that kind of cab companies and others working in similar companies as drivers. My 2 cents worth of advice is unless you know a particular company where to take your car be very careful before you venture especially that you will be partially loaned. Worse still some companies hire out vehicles as self-drives and majority of the self-drives clients are either novice drivers or people with cars but do not want to drive own cars to places with bad roads so they hire cars and spare theirs!


Thanks Gathige for the insight right there!
selah
#6 Posted : Friday, April 15, 2011 12:07:14 PM
Rank: Elder


Joined: 10/13/2009
Posts: 1,950
Location: in kenya
smith01 wrote:
Thanks Christian.

I have been told about having to service and repair the car by myself. I have not visited any cab company yet but I am being directed to Pewin.My whole idea is starting an income generating project that isn't so involving.


Cab business is involving even if you get a company you will get involved in one way or another.

If its a 'new'car[Dubai]in the first few months many companies will be dieing to court you but once it hits some several kilometers you will get your rickety vehicle back.

I would advice you to try out Kenya taxi I hear they have good terms and your car will most likely be entrusted to a competent driver.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
smith01
#7 Posted : Friday, April 15, 2011 12:20:19 PM
Rank: Member


Joined: 8/5/2010
Posts: 161
Thanks Selah.

I will visit Kenya Taxi. I am also thinking of getting my own trusted driver for the car.
aydenjason
#8 Posted : Saturday, April 16, 2011 8:16:08 AM
Rank: New-farer


Joined: 3/13/2011
Posts: 39
Location: nairobi
Yeah, good thot! Gettin your own will mean a driver indempted to his job, to u, and your car. Am doin well with mine hapa donhom taxi bay na niko na my man whos fuly responsible.
Namukhaywa: walk by me & ill take u thea.
smith01
#9 Posted : Monday, April 18, 2011 10:46:56 AM
Rank: Member


Joined: 8/5/2010
Posts: 161
aydenjason wrote:
Yeah, good thot! Gettin your own will mean a driver indempted to his job, to u, and your car. Am doin well with mine hapa donhom taxi bay na niko na my man whos fuly responsible.

@aydenjason,

Getting a good driver is the tricky bit.
mchuuzi
#10 Posted : Monday, April 18, 2011 11:37:12 AM
Rank: Member


Joined: 9/6/2007
Posts: 132
smith01 wrote:
Hi Good people,

I am thinking of buying a car(partially loaned) and leasing it to a cab company. Anyone with insights or prior experience in this? Which is the best cab company to work with?

Please help.

Smith I have been in this business for 4 years with my cars as well as leasing cars from others to use them for carhire.When you lease your car for hire or Taxi its very Lucrative however the risks are really high.Its not for the faint hearted the deal mostly goes smooth of 6 months without incidence but when drama begins sometimes it leaves you almost bankcrupt.
If you have not bought the car invest in real estates the risks are less if you conduct due delligence.
If you have bought the car save enough in the good times to take you the rough patches.
Inbox me if you have bought the car already we could strike a deal.
smith01
#11 Posted : Tuesday, April 19, 2011 11:33:04 AM
Rank: Member


Joined: 8/5/2010
Posts: 161
@mchuuzi, I haven't bought the car yet. Am just researching on the cab business as a viable investment option. I think am abit scared now as you mention that one can end up bankrupt.
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