Ways to make that vehicle earn for you

You've that vehicle that serves your personal errands or is your means of commuting to and fro from your workplace, taking the family to outings, or serves as a testament or financial statement that you're a person of means and taste for high-end vehicles.

But beyond that pride or veneer lies what many know nothing about; that vehicle was acquired through credit financing and you're paying for that credit facility on a monthly basis, and this is what sees your salary shrink with the take-home after both statutory and that credit facility deductions looking pitiable.

Maybe you took that loan from those lenders whose interest rates are above the Central Bank of Kenya recommended rates, and the principal and interest repayments see you forking out an amount almost triple what you received.

And by the time you're done repaying, the vehicle value has already depreciated and maintenance costs are now eating into your salary and savings. But do you know you can make that vehicle work for you and lessen on your debt obligations? Here are few tricks.

Unconventional taxis

Have you shared rides with total strangers in an unconventional taxi and the owner of vehicle charged rates way lower than what registered taxis or public transport vehicles charges for the same in that specific route? It can pay well, and especially in mornings and evenings when transport demand is high.

Usually, we see Kenyans turning their vehicles into unconventional taxis during festive season when demand for transport is high and vehicle seats are booked ahead, leading to a transport crisis, and they step forward to fill the gap, and charge premium fares. This works out well for few days, until the next festive approaches and same mentality is employed. But what if doing the unconventional taxi business daily was to observe?

Think of those workers who report so early to workplaces and their organisation doesn't offer them transport, and they've to be early in order to beat that traffic gridlock. How about turning that vehicle into a taxi of sorts, know where to pick up those workers and drop them off at their workplaces? That van you're labouring day and night to pay loan for could be the magic bullet to lessen the burden. Say those workers pay you a prescribed amount no matter the distance covered daily.

Branding

Corporates with a wide customer reach are potential clients who can use your vehicle for their business activities. These are the ones with field agents, and rather than expend their resources, why not approach them and lease your vehicle to them? They can brand it in their colours and logos for their field agents to do marketing of their brands. Here you earn while the organization saves on costs of having to add on their fleet by investing in new vehicles and retiring the aged ones.

Campaigning

We're not far off from the 2027 general election and there are a few upcoming by-elections slated for later this year. Wannabe politicians expressing interest in capturing whatever elective seats of political office in 2027 are coming out in numbers.

Be it the MCA to governor positions, these politicians will need vehicles to canvass the ground. Think of that all-terrain vehicle you own and what advantage it can give to that politician in accessing the hard-to-reach places.

You are currently seeing these politicians coming up with all manners of foundations and their target is the marginalised or neglected places the incumbents have "forgotten" to develop as a tactic to gain relevance with masses. Those places could be impassable owing to poor road conditions and your vehicle could be what that politician is looking for.

The advantage in leasing your vehicle for campaign could be that politician could favour you for a tender once she or he clinch that seat and uses influence, or you as a front or shell for his or her business interests to avoid the conflict of interest once in office.

School transport/safari vehicle

If you look at the school fees structure of many schools, especially the mushrooming private ones, parents are each term charged for a yet to be purchased school bus or van.

Depending on pupils/students population, it can take a long time for that learning institution to actualise its objective of getting the transport means.

Why not lease out that fourteen-seater to the school as their temporary transport means? Agree on the terms of a comprehensive insurance policy and who'll cater for what during the lease agreement period.

Apart from leasing to a school, look also for firms in tours and travel business. During peak times, bookings could be on record with one firm that it may be forced to outsource for transport services from a rival one. Why not approach such a company and inquire from them your intention to hire your vehicle as a tour van?

And with the entrance of Uber Safaris, think of the intention in investing in that area as well. You never know how fast that loan, almost wiping out your payslip, will clear fast and save you the agony of popping pills whenever those dreaded calls from debt collectors come flooding in and raising your blood pressure.