yellow express online cab investment
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hello dimers , do any one have knowledge about yellow express cab investment..
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Go ahead, most such cos. are fly by night operators, they will do agreement with you pay you rent for 3/4 months and vanish with your car. Cost of website rs 1000 only.
I don’t remember where I read, but this happened recently in Kerala. There is no reason to trust such things.
Theh have video in YouTube .. just play that..
For me it’s looking like fishy..
Please any one here confirm my understanding regarding this scheme..
I have to buy Nissan car with down payment of 2lakh with monthly EMI.. EMI amount is paid by yellow express… They will give us monthly 10k as rent.. after 4 years they clear out EMI and buy our car for 2.5 L, is it like this??
I don’t know where you read about the 2L investment, EMI option and 10k rent. I only read the below
All expenses and responsibilities will be undertaken by the company and will be giving Rs.27 000/- monthly for the lease period of 4 years after all expenses like driver diesel repairs accidents or incidents and the vehicle will also be purchased by the company for a price of Rs.2.50 lakhs after lease period of 4 years.
It’s not worth the time to continue researching about it. I feel bad reading about such scams everyday so just pointed out things. It’s not easy for any businesses to generate such high profits for their investors unless its some unique business. So just ignore such scams.
Not sure why everyone thinks that there is a great return of investment. ROI is 10% per annum after taxes. Let me explain this in detail. Yellow cab gives 27k to customer but it includes EMI of 17k therefore, customer receive only 10k after EMI. Out of 10k, they also TDS of 200rs further reducing the cash to Rs 9,800. Now from tax perspective, your income is 27k and not 9.8k. So you have to pay tax of RS 8,100. To company, you are lessor and they are the ones running the business and therefore they will claim this entire 27k as lease expenses. You are simply a lessor and you can’t claim EMI as business deduction nor the interest expense associated with it. So now let’s look at how much money customer receive after taxes. Amount received is RS 9,800 minus tax of RS 8,100 so customer after tax amount is RS 1,700 which is .85% ROI per month. This investment works for those who do not fall into tax bracket. They will have entire RS 9,800 as income and it is great ROI for them but not for others.
It seems legit to me as I have visited their head office and also their inventory. I could see atleast 300 cars getting painted and this stats was 4 months ago. I do plan on investing in this but waiting for confirmation on its legal status as they were undergoing audit by the Government after the incident of IMA.
Considering only 10% of ROI, one can choose to invest in FD and SIP and other financial instruments which provides more or less same ROI with almost no risk.
Hope this helps those who are seeking answers.
As it has been mentioned about tax deduction of Rs.8100 per month. If it’s only about tax which reduces the profit then people can go ahead with spouse name or some other family members name whose income is under threshold limit.
Looks very promising! Am not able to see downsides as of now(somehow
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