What You Need to Know about Buying a Taxi

taxi buying

If you like the idea of being your own boss, becoming a taxi driver may be the career path for you. There aren’t a lot of barriers to entry when it comes to formal education, and you’ll have the opportunity meet new people every day while working flexible hours that suit you. The one thing every taxi driver needs is an appropriate vehicle. Here’s what you need to know about choosing the right one.

Should You Buy a New or Used

The main question you’ll have to ask yourself when buying a taxi is should you choose a used or brand new vehicle. Buying new gives you the chance to customize the vehicle with the exact options you want and you won’t have to worry about any unknown service history. The main downside of buying new, of course is the additional cost. On average, a car loses around 40% of its residual value after three years on the road, so the potential savings are significant.

While buying used may narrow down your options, you’ll still have access to a huge second hand market. If you’re worried about picking up a vehicle in poor condition, limit your search to well-known dealerships like Cab Direct that have a proven track record of performing regular maintenance checks. This includes a range of Approved Used taxis that come with a 12 month warranty and six months road tax.

What to Look for When Buying

Perhaps the number one criteria for any taxi should be space: both for your passengers and for any extra storage room you’ll need for their belongings. Because of this, you can immediately disregard any vehicles that don’t have five doors. Similarly, if you live in the vicinity of an airport, this will likely end up being one of your most popular destinations so make sure you can accommodate your customer’s luggage.

Next is fuel efficiency. After all, the last thing you want to have to be doing stopping at the petrol station every couple of hours. Pay close attention to the estimated miles per gallon (mpg) and be aware that any advertised mpg may vary from real-world performance. Finally, look for manufacturers that have proven track-record of reliability. Any extra maintenance and mechanics fees are going to add up in the long-run.

Being a taxi driver is the perfect job for the right kind of person. Make sure that you think about the responsibilities of the role before you commit to any serious purchases though.

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