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Cab Medallion hits $600K in NYC.


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Heh, I was doing a little poking around, and I guess the way it works is that companies buy them, then as a cabbie, you "lease" the cab, and whatever's left over is yours.

Wondered how that worked.

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Guest RzO

Heh, I was doing a little poking around, and I guess the way it works is that companies buy them, then as a cabbie, you "lease" the cab, and whatever's left over is yours.

Wondered how that worked.

yup, that is how it usually works, but some lifer cabbies save up enough money to basically buy the car from the company and pay royalties, kinda like a franchise. with a $600k tag in NY, not too many will be doing this anymore, heh.

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