Hi
I don't think I've posted on here for a while, but I have been reading a few posts surrounding the restrictions on plates etc - which has become extremely interesting.
I've been a Newcastle Hackney taxi driver for around 7 years now and I'm considering getting out of the trade. At present I have a "04" VW Sharan which was purchased new in May of last year after my Eurocab was written off. If I knew then what I know now, I would have probably purchased a Doblo and would be paying a hell of a lot less back to the loan company. I hold my hands up, I was wrong in going for a nice expensive taxi.
It's now becoming a bit of a struggle to actually make a decent weekly wage (I think a lot of you had a poor Christmas and New Year too), along with the fact my motivation to go to work - doing night shift - is at an all time low, I feel for the sake of my sanity I've got to look elsewhere for an income. I can’t imagine many taxi drivers are in the trade for any extensive period. I think the time has come to get out.
I see new drivers starting every week (usually renting) and know they are very keen, working 60 - 70 hour weeks making a nice wage, (so they should) but I know one or two years down the line the hours will shrink to 30 or so - only going to graft when its busy.
The days of ranking up during the day for a couple of hours to get a £5 job are long behind me.
That’s a little of my chest........ so back to my question, how much is my Sharan worth in the trade?
It originally cost £25,000 - converted by Automotive group to be Wheelchair accessible.
Its around 9 months old.
Has 25,000 miles on the clock. (has never been changed!) This will show you how little I work
The vehicle has had no major problems except a radiator change.
Its in A1 condition.
My friend has recommended if I sold the vehicle without the plate I would get around £21,500 - then he said to buy a Doblo which would leave a little in the bank. I would then be able to rent out the taxi for around £220 per week.
The other option is to sell the vehicle and plate. I have been told that WAV plates are selling for over £16,000 in Newcastle, so therefore selling the vehicle and plate for around £37,500 may be realistic ? ?
Finally, are Newcastle Council restricting the plates? I cannot see them opening the floodgates to this at all. The Lib Dems want less pollution in the city centre so this would not sit too well with their thoughts on the environment if they end up putting more taxis into the city. Secondly, we all know about rank space being taken up but it has now got to a ridiculous level in Newcastle. The major area of Newcastle where the vast majority of people drink - and taxis’ rank up, The Quayside, is becoming a ..........pedestrian zone, with a huge amount of taxi rank space taken up. Areas which are "no car lanes" are now full of taxis waiting outside kebab houses. You usually find at least one taxi outside a bar, which does not have a taxi rank.
In my opinion, I believe what keeps the price of a plate high are the people who go out on a weekend and see how busy it is, will say to you "wow, you taxi lads must make a fortune, I think I might try my hand at it. It looks easy money". God that [edited by admin] me right off. It’s “newbies” like this that are a little naïve.
I don't think there is anything wrong in paying for a plate for someone to have the opportunity to go self employed. What other business allows you to go self employed for such a small amount of money. And knowing that there will be restrictions on plates will only mean your investment is secure.
Any thoughts on this matter are welcome.
Cheers
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