How much does a taxi license cost in New York City?

Between 2014 and 2015, New York City’s non-corporate medallion price dropped 45%. In 2015, the price had fallen to approximately $650,000. As of 2018, one could purchase a medallion for less than $200,000.

How do you get a taxi license in New York?

All TLC license applicants are required to complete a 24-hour Taxi School course and pass the exam. Some taxi schools that you can use include: Master Cabbie, Hanac NYC Taxi Academy, LaGuardia Taxi Institute, Abba Training School, and Knowledge Seekers, Inc. The price of the course is $175 and the exam fee is $75.

How much does a taxi driver earns in New York?

The average salary for a taxi driver is $16.96 per hour in New York, NY. 3 salaries reported, updated at February 19, 2021.

How much is a NYC taxi medallion?

As of September, taxi medallions are a meager $80,000. Highly regulated, as of 2014, the City had limited the number of yellow cabs available to about 13,500. But rideshare vehicles had no such limits; the amount of them on the streets tripled between 2010 and 2019, from 40,000 vehicles to over 120,000.

How do I get a yellow cab license in NY?

Applicants must contact the taxi school directly to register for the course. You must submit your application before attending Taxi School, and you must bring your TLC receipt to enroll. Payment is made directly to the schools and range in cost – $325 for the 80-hour course and $125 for the 24-hour course.

How many miles does a taxi driver per year?

On average, how many miles do you drive per year? On average, 22% of our taxi drivers are driving over 35,000 miles per year! Followed by 15,001 – 20,000 miles per year.

How do I start driving a taxi?

Taxi & private hire

  1. Apply for a taxi driver licence.
  2. Apply for a taxi vehicle licence.
  3. Information for fleet owners.
  4. Learn the Knowledge of London.
  5. Taxi top advertising.
  6. Apply for a private hire driver licence.
  7. Apply for a private hire vehicle licence.
  8. Apply for a private hire operator licence.

What is a Class C license in New York?

A driver who holds a Class C commercial license can operate any single or combination of motor vehicles with a combined GVWR of fewer than 26,000 pounds, transporting hazardous materials, or carrying 15 or more passengers.

How do I become a taxi driver in NYC?

Application Requirements

  1. Be at least 19 years of age.
  2. Have a current chauffeur license or New York State class A, B, C, or E issued by the Department of Motor Vehicles, or equivalent from any other state.
  3. Owe no debts to the Taxi and Limousine Commission, the Department of Motor Vehicles, or the Department of Finance.

Is it worth buying a taxi medallion?

A taxi medallion is the physical certificate required to operate a yellow cab. Once seen as a valuable asset that secured a comfortable retirement, the medallion’s worth has plummeted, leaving the thousands of drivers who purchased a medallion in hundreds of thousands of dollars in debt, and financially ruined.

What is a Class B license in NY?

A commercial Class B license, also called a Class B CDL, is required to operate commercial trucks or large busses that weight more than 26,000 pounds.