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What if I invest for a Jeepney?


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miles-high

Let’s see you would be carrying 0 to 15 passengers every hour, @ about 10 pesos each. Maybe you could make 100 pesos per hour, working 10 hours a day, that’s 1,000 pesos a day…

 

You deduct the depreciation, driver’s pay, gas, handler’s fee, possibly the cost of insurance and you could figure out if it’s a good investment…

 

Don’t forget you need to buy the public transportation license (at least in Manila), that could be costly...

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islandhopper

In my opinion this is a really bad idea, My wifes family owned a jeepney for years and most of that time it stayed in the repair shop, This was usually because their drivers didnt take care of it,They just drove it like hell until it broke down.

Another problem is there is no way to keep track of the money, Its not uncommon for the driver and conductors to steal from you.

My wifes friend (who lives here in the states) made up her mind that she would invest in 2 jeepneys at a cost of 750000 pesos each, After only 3 months she realized she had made a big mistake because she was loosing a lot of money, To make things worse one of her drivers hit a car. The stupid driver of the jeepney told the man he hit not to worry! the owner of this jeepney is from the United States and has plenty of money. Well the driver (with this information) sued the owner and won, She had to sell the other good jeepney just to pay the court settelment.

I think she ended up selling the wrecked jeepney for a fraction of what she paid for it.

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udonthani

example 1 : somebody suffering from a mental illness decides to commit suicide by throwing themselves in front of a speeding jeepney. It's quite a heavy vehicle, and the chances of success are only slightly less than doing the same in front of a train.

 

what happened?

 

well, they scraped him up off the floor and him in the ground in about 36 hours, the jeepney driver said they were very sorry such a thing happened and they had been traumatised by it themselves, but there were plenty of witnesses and the family realised they had no cause to make any complaint to anybody.

 

example 2 : somebody suffering from a mental illness decides to commit suicide by throwing themselves in front of a speeding jeepney. It's quite a heavy vehicle, and the chances of success are only slightly less than doing the same in front of a train.

 

what happened?

 

the driver is arrested 'for his own protection' to escape the wrath of the family. After lengthy negotiations supervised by the police, the owner of the jeepney is required to make a substantial restitution to the family in a financial settlement. Then the driver is let out of jail.

 

what is the diffference between example #1, and example #2 then?

 

easy. Example #2 is owned for a foreigner. Example #1 is owned by a Filipino.

 

don't do it.

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spritsail
the driver is arrested 'for his own protection' to escape the wrath of the family. After lengthy negotiations supervised by the police, the owner of the jeepney is required to make a substantial restitution to the family in a financial settlement. Then the driver is let out of jail. what is the diffference between example #1, and example #2 then? easy. Example #2 is owned for a foreigner. Example #1 is owned by a Filipino.

 

This is indeed true Udon Thani, as it was my jeepney. i had to pay 25000php to the family. However, in the police report, the investigating officer made no mention of the suicide and the Jeepney Insurance company paid out more than half of the costs.

 

That being said, I bought the jeepney in 2003 for 240K (around 2,400 pound when 1 pound = 100 peso) , brand new Buffalo Motors, registered 26 passengers, semi stainless, 4 BC2 Izuzu power block, completely decorated and with inside stereo. In England, I could have bought a 49cc Peugeot Speedfighter scooter for the same price. I bought it mainly to transport bamboo, lumber, hardware etc during our housebuilding project as local haulage was almost non existent and also as a long held fantasy to own and drive a jeepney.

 

AS the house building waned off, my wife registered with the LTO and local jeepney cooperative to get a route franchise. Her brother came onboard as driver/conductor. We had a long route - Mambajao, Benoni, Catarman, around 50km - one way. For two years I also drove the jeepney on passenger runs without any problems, even being stopped by the local police a couple of times for papers check, but only a few laughs with the police and a promise of a beer or two in my pub was the penalty. Afterall Camiguin is only a small island, with a small population and most families are related.

 

My bro in law is now registered as owner and operator, and drives the jeepney 12 hours a day, 365 days a year, averaging between 1000 to 2000 a day. We have several contracts to do special trips i.e with cruise ship company for a once a week trip around the island; a safari dive company; to take bananas to port every sunday, take coconuts to the copra market etc . We use it to offer special trips around the island for guests staying at our guesthouse and any time I need building materials like bamboo, nipa and lumber.

 

We have to change the tires 2 times a year, keep it topped up in oil, etc. My bro in law does most of the maintainance.

 

I have/had great pleasure in having a jeepney, which was always a long held fantasy. When it does wear out, I would love to get an Allisons Jeepney built in Cagayan. There is a waiting list, and an order must be placed a year in advance to get a customised one - cost around 750K.

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