Hi newbie I have a question. Looking to help someone in Bali with a 50% deposit for a loan for a taxi. Buy and run his own for around 220k IDR. any advice on how to secure or make up a contract. He is willing to open joint Comm bank account so I can watch repayments. He seems genuine. Asked my daughter and son-in-law to visit him in couple log weeks. He has driven me on 2 visits so got to know him fairly well, met his kids.. Beni reckons can repay th bank in 4 yrs. Will also repay me at lower rate. I'm not too concerned, so long as I cover my interest. PS. My wife reckons I have rocks in my head... LOL.
Your wife is correct. You have rocks in your head. You will never be repaid. Forget about it. It would be better to spend the money on your wife.
This bloke has driven you around on 2 visits and you want to give him $12,000.
Here is a quicker way to achieve the same result.
(1)Buy a carved wooden penis.
(2)Give it to your wife.
(3)Stick your head out the window while naked.
(4)While still bent over, ask your wife to insert the carved wooden penis for you. (gently).
(5)Now throw $12,000 out the window.
This bloke has driven you around on 2 visits and you want to give him $12,000.
Here is a quicker way to achieve the same result.
(1)Buy a carved wooden penis.
(2)Give it to your wife.
(3)Stick your head out the window while naked.
(4)While still bent over, ask your wife to insert the carved wooden penis for you. (gently).
(5)Now throw $12,000 out the window.
1: Give me 12,000aud I will open a joint bank account in Australia & give you 2.5% interest. I will pay back the loan in 4yrs, my kids have a contract in Perth so they can come around & have a beer to seal the deal:icon_mrgreen:.
2: Can you open a joint bank account????
Who is he buying the taxi run from????
were is he from?????
are you happy to lose all your money????
so the point is you are trying to help the guy, not really looking for advantage. and you need to make sure that you help a right person. if you don't mind i could discuss this with you about how to minimize your risk send me mail to [email protected]
Andre
Andre
If you are going to do it and you seem to want to Id go in and just make the donation because you won’t get your money back, nor will you see profits. Have you ever heard of the term “Irresponsible lending” This is considered irresponsible lending. Generally you never mix money with friends. Through irresponsible lending the financial economy for the world went down the drain.. Imagine how badly this could effect this guys family? He will either never pay it back and your friendship will go sour so you will go onto friends and slag him and say not to use him because hes not honest etc or he will try so hard to pay it back it purely runs him into the ground and could stop food on the good old table. Put the money to good use, hell pay his kids school fees until the end of school or something but certainly don’t lend the money with the expectation for him to pay it back.
donation
Go ahead if you are prepared to lose the money and walk away if it goes pair shaped because it will do your head in. If the money isn't that much of a hassle go to a Notary and do up a contract and take it from there..................................... I could nolt afford to lose that much money so I have to agree with everyone. The odds are against you getting all your money back.
Go ahead if you are prepared to lose the money and walk away if it goes pair shaped because it will do your head in. If the money isn't that much of a hassle go to a Notary and do up a contract and take it from there..................................... I could nolt afford to lose that much money so I have to agree with everyone. The odds are against you getting all your money back.
summary for balibule - you're gonna get effed in the arse and lose your money. That's the DIY version.
getting a loan/finance for a taxi (yellow plate) is pretty hard (almost impossible) without actually holding the license to operate a taxi..
pricewise : buying a new car (vios) on yellow plates are a hell of alot cheaper then when buying on the normal black plates.
apart from the loan..you write something about running it on is own for 220k..what exactly is that 220k for?
pricewise : buying a new car (vios) on yellow plates are a hell of alot cheaper then when buying on the normal black plates.
apart from the loan..you write something about running it on is own for 220k..what exactly is that 220k for?
I met an Aussie guy living near Sukawati who had many years earlier lent money to a local to help him get a business started in Ubud. The business went well, he repaid the money, and they are great friends.
You need to know him well, and have reason to trust him. This probably means you should know him for some time before you lend the money. Then a simple contract in Indonesian will help you both be clear on the details like interest (if any) etc. Good luck.
After thought. If you haven't read Eat, Pray, Love yet - then read it taking note of her story about how she worked to help the healing woman buy a house. Elizabeth Gilbert explains well how the westerner felt in this small drama, but it's not that hard to appreciate the Balinese side of the story as well.
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thanks Ron, Gilbert and Andre et all
I will take all the advice onboard and take more time to get to know him better.. he is looking to provide a better future for his kids, as we all are.. maybe I can help out in a different way.. lots to think about.. lots of questions to ask still
Gilbert... can you explain? my understanding was $220k to buy a new car , not sure if on yellow plates, checking with Beni..
buying a taxi is cheaper than buying a car for private use.. is that what you are saying.. ?? why is that ?? is it subsidised or cheaper to encourage more taxis ???
I will take all the advice onboard and take more time to get to know him better.. he is looking to provide a better future for his kids, as we all are.. maybe I can help out in a different way.. lots to think about.. lots of questions to ask still
Gilbert... can you explain? my understanding was $220k to buy a new car , not sure if on yellow plates, checking with Beni..
buying a taxi is cheaper than buying a car for private use.. is that what you are saying.. ?? why is that ?? is it subsidised or cheaper to encourage more taxis ???
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When he says taxi he may not mean a Bluebird or Ngurah Rai taxi in the south. He may just mean a vehicle like an APV or Kijang so that he can tout for transport like all the others. This does require him to register the car as a tourist transport - but I don't think that is all that difficult. (The Rp220 juta suggests it may be a Kijang.)
I think a private car and acting as a guide would be better than driving a taxi. But then he needs to think how he would get customers. Is he going to stand on the side of the road shouting transport. Some drivers I know have relationships with hotels providing tours and airport pickups. Some drivers have their own website and there is a recommended list of drivers on the Tripadvisor forum that would be good for him to get on. Of course it doesn't solve the problem of making sure he pays back the loan. A decent second hand car is another option. I thought dealers would provide finance, maybe you could just help with the deposit.
Kijang
Hi, Beni already has a Kijang.. that is what he drives us around in.. but it is just the nature of not getting work all the time and having to tout on the streets for business. He is looking to a taxi to supplement his income.. like we would have 2 jobs.. so he can still earn when he doesn't have his regulars. I asked him when he is driving tourists in his Kijang, will he have someone else lined up to drive the taxi..
Hi, Beni already has a Kijang.. that is what he drives us around in.. but it is just the nature of not getting work all the time and having to tout on the streets for business. He is looking to a taxi to supplement his income.. like we would have 2 jobs.. so he can still earn when he doesn't have his regulars. I asked him when he is driving tourists in his Kijang, will he have someone else lined up to drive the taxi..
I think it would be very difficult to make any money with a taxi. If he already has a Kijang perhaps he just needs to market his services better. Put up a web page, get on tripadvisor. If he some kind of knowledge or interest perhaps he could offer specialty tours.
it's cheaper because there are some taxes when buying a new car that don't have to be paid..but only if the car is registered as a taxi and thus gets yellow plates, needed to register as a
taxi is a license to operate a taxi. ofcourse also need to have a NPWP (tax number)
to supplement his income...if a taxi is not on the road, it is costing and not making money...the license (possible to rent that, but the car would not be in his own name then) still needs to be paid each week/month/year..same goes for the other costs like the loan/finance. That's why all taxi's are being driven by two or three guys on a rotating shift.
If he want's to operate a taxi, he should talk to bluebird...one can rent/lease a taxi straight from the company (bluebird), per day/week/month/year..saves a lot of hassle in
paperwork/licensing etcetc...
It is hard work to make money driving a taxi..daily costs versus the daily income, means putting in a lot of hours to break even and then making money.
On a personal note..I don't see how him driving a taxi would better his childrens future.
I think spicy has a good point...if people (tourists) don't know they can hire HIM as a guide/driver, they can't book him. So getting that info out there is important..so like spicy says "market"
his services better. Another option to add possible income, is talk to a rent-a-car company..if they have a customer looking for a car with driver, they could call your friend...ofcourse they will take an commision of some sorts, but that's is negotiable.
taxi is a license to operate a taxi. ofcourse also need to have a NPWP (tax number)
to supplement his income...if a taxi is not on the road, it is costing and not making money...the license (possible to rent that, but the car would not be in his own name then) still needs to be paid each week/month/year..same goes for the other costs like the loan/finance. That's why all taxi's are being driven by two or three guys on a rotating shift.
If he want's to operate a taxi, he should talk to bluebird...one can rent/lease a taxi straight from the company (bluebird), per day/week/month/year..saves a lot of hassle in
paperwork/licensing etcetc...
It is hard work to make money driving a taxi..daily costs versus the daily income, means putting in a lot of hours to break even and then making money.
On a personal note..I don't see how him driving a taxi would better his childrens future.
I think spicy has a good point...if people (tourists) don't know they can hire HIM as a guide/driver, they can't book him. So getting that info out there is important..so like spicy says "market"
his services better. Another option to add possible income, is talk to a rent-a-car company..if they have a customer looking for a car with driver, they could call your friend...ofcourse they will take an commision of some sorts, but that's is negotiable.
Something is not adding up here, We have two cars in Bali as transport & both make money. We up date the cars every 5 years so may be your friend is not selling himself well. Buying in to a taxi is not going to make him money.
You may be better off to pay for his kids schooling.
If he has been a good friend for 10 years I would sit down & talk to him & he's wife about a loan, but don't expect to be paid off fast, you would be luck to get back 500,000rp a month.
It is good that you are trying to better someone life, I hope it all goes well:icon_mrgreen:.
You may be better off to pay for his kids schooling.
If he has been a good friend for 10 years I would sit down & talk to him & he's wife about a loan, but don't expect to be paid off fast, you would be luck to get back 500,000rp a month.
It is good that you are trying to better someone life, I hope it all goes well:icon_mrgreen:.
The comments by Spicy are correct. It is about marketing. Beni does not need a taxi, he needs to be marketed.
A driver came to me a few years ago and asked for my help.
He said "I have seen you turn the business here from a failure into a success. Before you there was an Australian, an Indonesia and then a Frenchman who tried to run this business and all failed. You however are kicking goals with it."
I explained to him about marketing his wares. The internet is a very powerful weapon. I used the following web article as an example
My Bali Guide Information for traveling to Bali Indonesia
What you may find interesting is that since January this year 20,000 people have opened this site to read about a power point. So how many will hit on something that is interesting.
This driver got himself a web site. He has since set up a Facebook site. He now has 3 vehicles that are constantly working and has 10 drivers on his standby list.
He does not stand around outside of hotels yelling "Transpot, transpot" he arranges transport with people before they get here.
Check this site My Bali Guide Information for traveling to Bali Indonesia
It has been operating for just over 5 years. 1,984 days to be precise. It has had 1,380,418 visitors in that time.
Isopp, when you are coming to Bali next time send me a PM and we can catch up.
A driver came to me a few years ago and asked for my help.
He said "I have seen you turn the business here from a failure into a success. Before you there was an Australian, an Indonesia and then a Frenchman who tried to run this business and all failed. You however are kicking goals with it."
I explained to him about marketing his wares. The internet is a very powerful weapon. I used the following web article as an example
My Bali Guide Information for traveling to Bali Indonesia
What you may find interesting is that since January this year 20,000 people have opened this site to read about a power point. So how many will hit on something that is interesting.
This driver got himself a web site. He has since set up a Facebook site. He now has 3 vehicles that are constantly working and has 10 drivers on his standby list.
He does not stand around outside of hotels yelling "Transpot, transpot" he arranges transport with people before they get here.
Check this site My Bali Guide Information for traveling to Bali Indonesia
It has been operating for just over 5 years. 1,984 days to be precise. It has had 1,380,418 visitors in that time.
Isopp, when you are coming to Bali next time send me a PM and we can catch up.