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Old 23rd September 2017, 12:05   #76
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Default Re: Zoomcar Associate Program (ZAP) - Lease a car to Zoom!

I got an offer from Just ride / driveezy. Their offer looks good on paper. I would like advise regarding this as an investment option to earn extra money. Attaching the excel sheet for reference. they promise the instalment amount as min guarantee. Thinking about exploring this option any advice would be helpfull.
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File Type: xlsx Cars 31-07-17.xlsx (112.0 KB, 283 views)
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Old 23rd September 2017, 12:34   #77
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Default Re: Zoomcar Associate Program (ZAP) - Lease a car to Zoom!

Quote:
Originally Posted by architkarpe View Post
I got an offer from Just ride / driveezy. Their offer looks good on paper. I would like advise regarding this as an investment option to earn extra money. Attaching the excel sheet for reference. They promise the instalment amount as min guarantee. Thinking about exploring this option any advice would be helpfull.
I would suggest to get more information about the worst case scenario rather than best case. I gave up on the ZAP because of the very low guarantee.

The Excel you shared assumes mileage of the car as 17 km/l! I would suggest you to check the other figures as well. I have modified it a bit accounting for the correct fuel prices and a bit low booking scenario. Also I'm assuming the car will be registered as a tourist vehicle, in which case yearly tax is Rs. 10,000 (I pay 10k per car per renewal including agent fees).

In the last per month expense, I'm guessing that Just Ride pays you the car EMI + 4,000 + any earning. EMI will goto bank, so you end up with earning + 4,000 i.e appox Rs. 7,600 a month.

You must also account for maintenance charges, tyre expenses, misc charges like painting/denting etc. My WagonR CNG maintenance costs around Rs 0.5 per km run.

You are better off investing that amount elsewhere. Currently, incase of cars, the best investment would be to get a contract with a 5-star hotel, or a good company for minimum of 3 years on cars like Innova. The headache associated with it is simply not worth it. Unless you get an RoI of 15-20% per year, it is simply not worth it.

While I'm earning ok from my car in Uber, the car is running in 2 shifts for 6 days a week. I also use that car for family chores - going to office, airport drops for dad, etc which make the investment convenient for us. Its like having a car on call that pays for itself. Incase of Just Ride / Zoomcar, they are charging a lot of fees for just listing the car on their platform, you can get better rate of returns on other investments like mutual funds, etc.
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