Can Idle Cars Really Earn 12%–18% Annual Returns Through Asset Management?

Many Nigerians have cars sitting unused in their garages while they continue to depreciate. With fuel costs, driver issues, repairs and security concerns, leaving a vehicle idle can feel safer than putting it on a ride-hailing platform. Some vehicle-management companies now offer to run privately owned cars for corporate clients, hotels and verified riders. They typically handle driver screening, tracking, maintenance, insurance and trip reporting, while the owner receives an agreed share of the earnings. Supporters say a ₦15 million to ₦25 million sedan or SUV could bring in roughly ₦180,000 to ₦350,000 monthly after operating costs. However, these figures will depend on the vehicle, location, downtime, repairs, insurance terms and the management company’s fees. Cars also generally depreciate, so owners should factor that into any return calculation. Before handing over a vehicle, verify the company’s office, insurance cover, tracking system, contract terms, monthly reports and references from existing owners. Has anyone used a car asset-management service in Lagos, Abuja or Port Harcourt? What was your experience?

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