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nyc77

(4 Posts) 11/26/2010 1:05:33 AM

newbie question

Hello,

I`ve been driving for almost a year now and got sick of all the garages , dispatchers etc. i wanna buy a car and lease a medallion and work my a$$ of to save enough to buy a medallion .i am going to be the only driver without any partners .

1. is it still the same costs involved ? $1275 a week for the first 2 years for a car payment and leasing medallion and then $950 for the rest 3 years...

2. which is better to buy ? hybrid ford escape or ford CV? since i`ll be the only driver i`ll take good care of my car.

3. is there any other costs hidden( insurance or anything like that)? since i am new i need as much info as possible.

4. how much is gonna cost me to buy a medallion? plus what other spendings weekly or monthly are there( insurance, licenses etc.)

thank you for your help

jaybass

(1 Posts) 12/1/2010 4:37:27 AM

Re: newbie question

did you mean 1275 a month? or a week.
if that's the case you won't make any money.

taxi2009

(37 Posts) 12/2/2010 6:51:53 PM

Re: newbie question

$5000 down payment not refundable

$280 gaz each week

$1350 car lease without full coverage -trafic time=4hours work

24 hours working each day means 24 -8 hours sleep

vacation and days off paid in advance from your packet/ -$100 a week

no sick days

mecanic parts paid on your packet and oil change by you

so what we got here

$1350 lease+280gaz= $1630

each day you must generate $232.857 that goes to the lease

and each hour yu loose yu pay $10 more from yur packet

if you sleep only 8 hours a day your lease increases

so 8x7=56 ===>$560 increase in your lease=>$2190/week

you will be paying 2190/7=312.85/day

so sleeping 8 hours a day and work fully 16 hours will push your heart to make $20 an hour

and more time you loose or even miss a 20 dlr on any hour work or even going to eat will automaticly increase your lease

so be smat and dont play game with capitalism/garages and brokers giving you hardtime because they know that we have no other option//taxi busniess is over for drivers/work free 4 days and take on day that how it work.

the medallion equation is just a legal abuse for drivers,and no driver anymore will be able to buy his own medaliion.

ladys have quit the job first because i dont see women anymore driving taxis///waw.freedom is too expensive//

nyc77

(4 Posts) 12/3/2010 2:50:36 PM

Re: newbie question

first of all not $1350 but $1275 and $280 for gas ??? you drink that or what ...i spend $ 15-17 a day for 130-140 miles of driving (hybrid) right now i pay 900 a week for a lease plus tips for dispatcher and other shit ...wasting at least 3 h a day for getting to work, waiting for a car etc which is $100 a day that time if i would work...

taxi2009

(37 Posts) 12/4/2010 11:42:12 AM

Re: newbie question

24 hour shift

X is your hourly gross income

Z the number of days you work

Y the number of hours you sleep

1250 is your broker lease

150 is your mta and credit card lease

200 is your gaz lease

120 is your lost time in trafic ,eating, relaxing etc

Virtuel lease =$1720

In is your income

In =(24.z - y).x - 1720 (first degree linear equation)

If you work 6 days , 18 hours a day then your income is:

In=(24.6 - 6).x-1720

And if your hourly gross income is 20 then

In=(24.6-6).20 - 1720 ====$1040===è 9.5/h

so if I take a trip to brookly OR BRONX in 30 min I WILL MAKE $4.25 FOR MY SELF AND LOOSE AN OTHER 30MIN COMMING BACK AMPTY

12 hour shift

850 broker lease

200 gaz lease

100 mta credit card

100 lost time

In=(12.z - y ).x -1250

y=o because you don’t sleep.

If you work 6 days and 12 hours daily and make $30 hourly gross income your net income will be

In (12.6-0).x-1250======$910==è 12.5/h

30 MINUTE TRIP IS $6.25 GOES TO MY PACKET

So working 18 hours daily for 6 days and take home $1040

Or working 12 hours daily 6 days and take home $910

Note anytime lost your income goes down

$15 an hour just to feed up your broker mta credit cards expenses.

Keep in mind each hour you re giving away 15 dlrs (night shift.)

If x=30 è happy day

If x=20==>ok day

If x=15==>you working free your income is zero

If x=10==>you paying 5 dllrs each hour from your packet .

good luck.

nyc77

(4 Posts) 12/4/2010 9:47:04 PM

Re: newbie question

well i still didn`t get answer on my questions...and you are absolutely right ....

taxi2009

(37 Posts) 12/6/2010 2:04:12 AM

Re: newbie question

Medallion price======$600k========>finance $150k deposit plus closing cost($25k)
Vehicle costs=======$25k cash====finance=====>$45k
"Hack-up" costs=====>gps system .taxi lights.meter......an other $15k
Insurance========>comercial insurance====good driver>$6k up to $7k
TLC-Licensing fees:

Two-year License

$1,100

Two-year Inspection Fee

$300

Medallion Tin

$10

Applicable federal, state and local taxes=====>?????
Other operating expenses (gasoline, maintenance, etc.)=====?????
An independent owner must personally operate the taxicab 210 days/ 9-hour shifts per year

nyc77

(4 Posts) 12/7/2010 8:08:48 PM

Re: newbie question

thanks