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Thread: Is giving cars to careem a good business?

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    Default Is giving cars to careem a good business?

    Supposing you buy 5 cars and give them to careem along with a driver and they run for 16 hours atleast per day then they'd be bringing atleast 130,000 per month (based on what I've read and heard). Deducting 20-30k for the driver would leave you with atleast 1 lac per month per car.

    Getting such an amount per car is a very good investment. Supposing you got the car for 15 Lacs then that's pretty good return on investment too. Along with that if the car runs in Lahore or karachi as compared to islamabad would even bring in more money.

    What are your thoughts?

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    What about the maintenance ?

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    What if major accident occur? Waisy ALLAH NA KRY

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    Maintenance is an issue but in new cars they only need oil changes etc which aren't very expensive

    And the car insurance is a requirement of careem, Uber etc so accident and theft aren't a very big issue

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    Hmm


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    That's awesome

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    A real driver knows exactly what's in his car.

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    is the amount of 130k is fixed per month ? and 16 hour is not practical i guess with 1 driver

    what i have heard that income will depend upon the pick and drop u do

    if that 130k is fixed and saving almost 90 to 100k is a very good return of investment, even if you buy a new car from bank you can even give the per month installment from this income

    the investment plan looks very good on the table

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    confirm first as mostly itna profit koi nai deta
    Hanjiii Kaa Storeey Eehh !

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    Quote Originally Posted by paracha.ishaq View Post
    is the amount of 130k is fixed per month ? and 16 hour is not practical i guess with 1 driver

    what i have heard that income will depend upon the pick and drop u do

    if that 130k is fixed and saving almost 90 to 100k is a very good return of investment, even if you buy a new car from bank you can even give the per month installment from this income

    the investment plan looks very good on the table
    Rough estimates. And no, definitely not fixed. Even if it gives 60k a month the return are much better than most investment plans. Like people but a 20 mil+ home and rent it out for 60k-80k whereas for this amount you can get soo many cars and earn a whole lot more

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    Quote Originally Posted by moizadil View Post
    Rough estimates. And no, definitely not fixed. Even if it gives 60k a month the return are much better than most investment plans. Like people but a 20 mil+ home and rent it out for 60k-80k whereas for this amount you can get soo many cars and earn a whole lot more
    Yes as i said earlier plan looks very good on the table !

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    Ek ghar mei 2 bhai agar ek gari chalain to people complain isne mari usne mari not my fault bla bla.

    For running such a car. You would have to account for depreciation of the car at least 15-20% per year. In account of maintenance. And replace the car every five years.

    The car goes on rent for 24 hours. 12 hours per driver or 24 hour per driver plus next day off.

    With careem you can manage your car your self and also lend them the car. They will arrange drivers on their end.

    It's upto you if you want your car back at night or totally lend out the car with only bearing expenses on the car and forget about seeing it.
    Get over the fact that Xli lacks power windows, Its an Xli because it lacks thoose features or else it would be a Gli or an Altis if had all the goodies.

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    It depends on how much margin/trip it offers? And with increased availability of cars will that margin change?


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    Quote Originally Posted by chinyoti View Post
    Ek ghar mei 2 bhai agar ek gari chalain to people complain isne mari usne mari not my fault bla bla.

    For running such a car. You would have to account for depreciation of the car at least 15-20% per year. In account of maintenance. And replace the car every five years.

    The car goes on rent for 24 hours. 12 hours per driver or 24 hour per driver plus next day off.

    With careem you can manage your car your self and also lend them the car. They will arrange drivers on their end.

    It's upto you if you want your car back at night or totally lend out the car with only bearing expenses on the car and forget about seeing it.
    Oh really, I wasn't aware of this.

    And corolla doesn't really depreciate in our markets to be honest

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    Quote Originally Posted by moizadil View Post
    Oh really, I wasn't aware of this.

    And corolla doesn't really depreciate in our markets to be honest
    By depreciation I mean if you have to replace the car every five years you should have money for it.
    Get over the fact that Xli lacks power windows, Its an Xli because it lacks thoose features or else it would be a Gli or an Altis if had all the goodies.

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    i am only sharing what i have heard from people

    * if you took 10 or more rides a day, you will get rs 3500 fix for that day.
    * for every ride, you will get the rent from the customer at the time of drop.
    * you have to give some percentage (i think its 20%) of the rent to the Careem.
    * its upto you when you want to start taking rides. you will be provided a mobile app in which you can setup online/offline mode.
    * if you hire a driver for pick and drop, then you can navigate your driver from your mobile (tracking the driver's mobile).
    abra-ca-dab-ra........!

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    I did the numbers for this for a friend a while ago, here was what we concluded with (financial statement styled), for Careem only:

    You can earn around 100,000-110,000 by meeting the minimum targets on Careem, average 105,000rs for 10 rides daily, 30 days a month. That's your revenue.

    Revenue: 105,000
    Tax: 3050
    Tax is deductible here because this is your income, all further expenses etc. come at your own behest. I'm not sure if Careem cuts taxes on the payments made, this is worth looking into.

    Gross income: 101,950
    Costs
    - Driver: 25,000
    - Fuel: 33,000 (6000km monthly, 500ltr at 12km/ltr average)
    - Maintenance: 4,000 (oil, tuning, filters etc.)
    - Depreciation of asset: 6,500 (based on the price difference of getting a new City ~16lac vs a 5-year old city ~12lac over 60 months)
    - Insurance: 5,000

    Net Profit: 28,450

    Which is to say, you'll be earning 27-30k per month that you can spend anywhere. The depreciation money is assumed to be reinvested after 5 years in selling the old car and getting a new one.

    If you have the spare money to buy and manage some cars, 2-3 cars can net you almost 100k extra per month. This doesn't include the headache of maintaining the cars and managing your drivers.

    If you however have a full time job and want to consider driving Careem instead, I don't think these numbers will please you, the same way my friend decided it wasn't really worth it.

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    How much Careem pays if someone lends his car for the whole month?


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    Jawwad

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    They don't borrow your car, they want the owner to manage his business through their platform.

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    Quote Originally Posted by memad View Post
    They don't borrow your car, they want the owner to manage his business through their platform.
    +1 to what @memad said. Careem is a platform to connect the drivers and riders. They ofcourse check the drivers/owners before signing them up, and keep information about the riders, so they can get the ride money in case of any hiccups.

    Other than that, its up to the car owner to manage how many hours he drives, how much maintenance costs etc etc.

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