Earn on your own car.
I will tell you about my experience investing in a taxi in Ukraine. At first, I bought one car (Honda Insight) and gave it to the local taxi fleet “UTCTAXI” for management in 2020. When I decided to invest in a taxi, I had no experience in this industry, so I thought it was reasonable to turn to trusted people recommended by a classmate, as I had no time or desire to deal with it … Read more
I will tell you about my experience investing in a taxi in Ukraine. At first, I bought one car (Honda Insight) and gave it to the local taxi fleet "UTCTAXI" for management in 2020. When I decided to invest in a taxi, I had no experience in this industry, so I thought it was reasonable to turn to trusted people recommended by a classmate, as I had no time or desire to deal with it myself. The head of the fleet that I chose did everything possible to make the investment safe. I mention this because the car was destroyed (TOTAL). Under the terms of the insurance agreement, I tried to handle the matter myself initially, but the insurance provider prolonged the entire appraisal and auction process significantly because it had to compensate for the complete constructive loss, taking into account a fair assessment. I realized that I could not handle this task on my own, so I asked for help from "UTCTAXI" lawyer Alexander, who did all the letters, made statements, and other things in a couple of days, resolved everything within a month, and found decent assessors and so on. As a result, all the money was received. I decided to restore the car at the "UTCTAXI" service, and the guys did everything correctly and on time. The only problem was with the delivery of American parts, which had to wait for an additional 1.5 months, but this was also resolved. In the end, the car was restored and put back to work. The profitability decreased compared to pre-war times, mainly due to changes in the dollar exchange rate. In Hryvnia, it got even slightly higher. This year, I took the other 2 cars (Toyota) under preferential customs clearance and also gave them for buyback through "UTCTAXI". I am satisfied because the business topics that were there before the war has shut down, and now apart from renting premises, which has greatly decreased, this is my only constant income. I don't know what I would do without these sources. I want to take a couple more cars by the end of the year. The management team of the taxi fleet is professional and always ready to help. They reacted instantly when I had questions, and there was a lot of hassle with the first car being broken. I couldn't handle it on my own. Besides, they have all the modern technologies, mobile applications, and GPS navigation, constant control over the drivers. It is important to me because nowadays, the car's safety is not an empty sound. Since I gave the car to the fleet for management, I have been receiving regular monthly payments. I paid off the first car in a year and a half, and now it's pure profit. What I like most is that I don't have to worry about car maintenance - all the regular maintenance is done according to the schedule, and repairs are covered by the spare parts inventory on the day of the breakdown. This allows me to focus on my other projects. And most importantly, they find competent drivers. I will continue to work with these guys, and if you have any questions, I can meet with you to show you my cars, tell you more about them, or help you choose one, because now I understand better what to look for when buying a car.