Taxi Driver Online

Hi i'm considering going back on the taxis , I left a while back as my expenses were just far too much
125 insurance
120 office rent
100 diesel
125 car hire
(All weekly)

Now I've had a look and I can get insurance for £70 a week now being a bit older, so that in itself is a big difference.
I've been looking at getting a car on finance but have bad credit and have been offered around 30% apr form a couple
Of these guaranteed finance places and am wondering if it's worth it.

For example I can get a focus estate £3700 (57 reg 50k miles) if I paid the £700 deposit and paid off over 24 months I'm looking at just under £170 a month the total interest over the 2 years is £1025.

I'm wondering it this is worth it, £170 a month to buy vs £500 a month to rent. Obviously I will have to pay £300 for the car to be plated and cover repairs etc but I'm thinking at 50k miles it may not need too much work over the 2 years. The cars I was hiring (fords also) had 250k + miles on and while the repairs were free I was always off the road in the garage waiting for them to be done.

Any advice would be appreciated , thanks

The only way you make money Taxiing is by keeping your car on the road..and that costs money....

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Justice for the 96. It has only taken 27 years...........repeat the same lies for 27 years and the truth sounds strange to people!

Unless I am missing something in your post why would you be paying £125 ins and £125 Hire ? Usually in our neck of the woods the price is all in i.e an E7 would be in the region of £285/290, that would include ins/hire/office rent Or just hire including ins £160/£180!

What part of the country are you from?....Yes it does make a difference!

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Common sense........is just not that Common.

Newcastle , it's all separate the firm I was working for offered insurance but even if you had that it was separate.
The car hire would be paid with you office rent weekly , all firms up here seem to do the same

So do you think it is worth it in the long run ?

Personally I would check that out. It is no good being with the apparent best, if the overall rental/sting is going to take so much of your takings. You would (depending on the vehicle and of course your credit history) be able to buy your own for a lot cheaper than renting, insurance varies from company to company and it is worth shopping around.

With that kind of outlay (for the big boys) you might be better working for a smaller company who are only to happy to take newbies/anyone on board. Your perhaps smaller takings could be offset by a smaller rental.

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Common sense........is just not that Common.

Insurance is an issue I was 23 last time on taxis im 24 now, only 1 company would touch me most wanted over 25 or to have held PH Licence for so long. I've been quoted just over £70 a week now from the same company as I'm 24 and can prove 3 months of private insurance

Well your insurance is less at £70 and your car would be less at £40 pw. The other costs remain the same office rent is still £120 and the fuel is still going to be around £100. You would need to put money to one side for repairs and maintenance and if you keep on top of it instead of waiting for it to break that shouldn't be too bad either. Get your operators licence as well and you could do your own airport work, it might be worth it. Good luck

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Note to self: Just because it pops into my head does NOT mean it should come out of my mouth!!

That's what I was thinking , and hopefully if I don't need to spend too much on repairs it should work out ok, I'll be getting screwed on interest of the finance company but not getting screwed as much as hiring a scrap taxi off a company !
Thanks

Have a look at CabDirect's site, you can get an Auris Hybrid for £80 p/w (but your fuel costs will halve !). All they require for credit is a bank statement and some other docs to prove your ID.

I went from putting £100 fuel a week into a Mondeo Tdci to £55 a week in the Auris - so in reality a brand new car is only costing me an extra £35 a week Plus the repair bills should be low as there's nothing to go wrong on them, like clutch, flywheel, starter motor, alternator and no drivebelts to change !

Personally yes.

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IDFIMH

Thanks will look into that

£365 a week plus fuel

kin el...is that a record?

on large Brum firm has new VW transporters at £286 a week (just add fuel) on a rent-buy option, after 4 years the renter keeps the vehicle

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Of all the things ive lost, i miss my mind the most

Contact mark taylor at Cabs4less, new Superb £2500 deposit then £290 a month over 5 years

60mpg

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Of all the things ive lost, i miss my mind the most

The only way you're going to get a decent credit rating is by starting off with the "high interest HP companies," They'll put a green light on your credit file every time you make a monthly payment meaning in lets say 4-5 years your credit file won't be like a hot potato to some lenders.