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Who’s ready to buy medallions

4K views 68 replies 36 participants last post by  LetsBeSmart 
#1 ·
Within the next few months medallion purchases would be the best option for many who can afford them
 
#4 ·
U can rent a cab for $300-500 7 days a week. Buying a medallion u got morgage unless u pay in full plus insurance/inpections and the most important cops/TLC tickets. Ur only place of work gonna be airports and Manhattan. I drove yellow for 10 year it's not a good investment or business to get into in the age of Uber. Yes there is gonna be work if u can constantly drive up and down the avenues looking for fares 10 plus hour's a day. The way I see it 85% percent of New Yorker knows how to use Uber and no one wanna pay meter fare these day's
 
#5 ·
I completely agree with what you’re saying however I do still think that platforms is a thing of the past now especially That the expenses exceeded the amount that you can produce on a monthly basis taking in consideration all those additional fees as well the amount of competition compared to buying a long-term investment. At the end of the day it’s all speculation in any type of market investing but I do believe that we could catch them at a few good pricing you cannot go wrong on investment
 
#17 ·
I completely agree with what you're saying however I do still think that platforms is a thing of the past now especially That the expenses exceeded the amount that you can produce on a monthly basis taking in consideration all those additional fees as well the amount of competition compared to buying a long-term investment. At the end of the day it's all speculation in any type of market investing but I do believe that we could catch them at a few good pricing you cannot go wrong on investment
Tell that to the people who paid a million for their madallion. Now worth 250,000. Yes right great investment. Lol
 
#16 ·
Go invest into the markets and see your results. Brother you remma me in 2 years wen uber will be non existence and taxi will once again rule nyc. The only thing that might save us all is if there TLC gives us the plates and allows us to turn it into an asset

QUOTE="Suism, post: 6395257, member: 103094"]
Medallions are the worst investment you can make. If you got money lying around, you'll make more plying around with forex, sports betting, stocks or just anything else
[/QUOTE]

Where did you see them that cheap
 
#19 ·
Just look up NYC taxi medallions
.
New York City[edit]
Further information: Taxicabs of New York City
The total value of all medallions and assets related to them had a value of $16.6 billion in New York City in 2013.[6]

In 1962, the market value of a medallion was around $25,000. The price rose steadily. In 2005, an individual medallion was around $325,000 while a corporate medallion was approximately $375,000.[9] Around 2010, the market value of a medallion was around $600,000. It peaked around 2013 at over $1,000,000. Between 2014 and 2015, New York City's non-corporate medallion price dropped 45%.[6] In 2015, the price had fallen to approximately $650,000.[10] As of 2018, one can now purchase a medallion for less than $200,000. On July 11, 2019 sixteen medallions were offered at auction, three of which sold for $137,000, $136,000 and $138,000, while another thirteen medallions had no bidders.
 
#33 ·
"Who's ready to buy medallions"

NO SANE PERSON IS.
Buy low sell high. Buy when there's blood on the street. Be fearful when others are greedy be greedy when others are fearful. If and only if you plan to drive for 10 years the medallion is worth a shot. What would you have after 10 years doing apps? NYC will eventually come back.
 
#35 ·
It's over for taxis. It's been over for a while. Platforms or not going anywhere. The glory days of taxis are not returning at least in NYC. Who's going to pay the expensive meter rates?

A friend of mine works part time from noon till 7pm or 8pm and barely hits $70 to $90. And eventually when self driving vehicles are out the platforms will get rid of us drivers too. These $60K medallions are soon to be worth nothing.

The pandemic killed off whatever was left of the taxi industry.
 
#36 ·
It's over for taxis. It's been over for a while. Platforms or not going anywhere. The glory days of taxis are not returning at least in NYC. Who's going to pay the expensive meter rates? Sr

A friend of mine works part time from noon till 7pm or 8pm and barely hits $70 to $90. And eventually when self driving vehicles are out the platforms will get rid of us drivers too. These $60K medallions are soon to be worth nothing.

The pandemic killed off whatever was left of the taxi industry.
Self driving cars are science fiction for the next 20 years.
 
#48 ·
It would be worse than investing in horses. At least with horses you still have the horse. All a medallion is is a license to run a yellow cab, not even the yellow cab itself. Only when the price for the license is less expensive than the car to put it on will a medallion be worth it.
And what would you do with your horse in NYC? You still have to fed it? Is your backyard big enough for a horse? Now if you had a pony your kids would love you. Now if you have a medallion you can frame it. hang it on the wall and wait for things to improve. Lol
 
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