Is there any Wazua out there who can shed some light or in simple terms anyone who has any infor on how the car hire business (saloon cars)goes, what are the returns in case you lease out your car to a credible company.

The term "Car Hire" can mean a number of arrangements.


For most, you give them your car so as they engage in Taxi business with it using their drivers. Rates vary, but a common one is 40,000/= to 50,000/=. One major downside is that they take like forever to release funds, so, if its a bank loan, UTAJIONGELESHA! Also, since you've given your car away, expect to write it off in less than 5 years.

Strategy has always been to dispose off a unit once you repay the loan and use the salvage value as a deposit for a "newer" one. This way, you always have the "newest" and "fashionable" car.