Do Cab Drivers Rent Their Taxis, Or Buy Them?

For people that haven't worked directly for taxi services in their past

, there can be a certain amount of confusion, and several misconceptions about how the taxi employment model operates. It is important to clarify those issues so that people interested in seeking employment within the industry can get an accurate picture of how their potential employment will be structured. One of the most common of these types of questions which is asked is whether taxi drivers rent or own their cabs.

The truth of the matter is that if you looked at the operations of enough cab companies you would find several variants of both of those options available to drivers. The policy that is used depends on the individual company, and might be influenced by a number of factors, including the size of the company and their experience within the industry.

Almost all drivers that are just beginning driving taxi will lease their cabs rather than buy them. If all new drivers were required to first buy a cab it might be very difficult for the companies to recruit new drivers into their ranks. Instead, they put together an attractive leasing option that makes it easy for a newcomer to get up and started in the business.

The leasing package typically includes everything the new driver is going to need to operate their cab, not just the care itself. This means the meter, a radio or communication device, potentially a GPS, and a method of processing additional payments like credit and debit cards will probably all be made part of a package lease. The responsibility for the cleaning and the maintenance of this equipment will fall on the lease holder, but they will have in their possession everything that they need to start working for their cab company.

There are certain companies which allow their drivers the option of purchasing a cab. Often, they require though that the car be bought from them so that it adheres to all company standards. This is an option that is usually only explored by those with several years experience within the industry who have decided that this is a career path that they are going to stick with over the long term. Once that decision has been made, there can be certain financial advantages to owning your own car as a driver rather than continuing to lease it from the company.

by: Brandon Caldwell

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