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Author	Topic
ronman (7 Posts) 1/22/2008 2:44:56 PM	Buying a Taxi In NYC Does anyone think it is a good idea to buy a taxi medallion? i Have never driven a cab but i would like to buy one. Has anyone on this board bought a medallion before driving a cab? Is it difficult to jump right in like this?
MAJORTAXISALES (6 Posts) 1/24/2008 3:56:46 PM	Re: Buying a Taxi In NYC Ronman...Right now with the medallion prices, I would recommend you lease a medallion and buy a car. Or even just lease both. The business if you work hard enough can be profitable in a few years. Then you could think about jumping in. If you have any questions...feel free to give me a call. I've been in the Cab business 7 years...sales and serivce 718-541-5462 Freddy
Antolin (58 Posts) 3/1/2008 11:08:19 PM	Re: Buying a Taxi In NYC 600k for a corporate, if you can find one for sale. Around 200k downpayment to get going 430k for an individual, but you need a hack licence. Around 50k down payment to get going. So to answer your question should you buy a medallion? If you got 200k, you can buy one but still can't drive it w/o the hack licence. If you have 55k, you can buy one, but still need the hack licence to drive it. Its a good long term business. But you gotta deal with a lot of B/S. If you are serious about this business, you need a medallion eventually. There is no other value to this business but a medallion. Otherwise, you are just trading dollars for hours.